No timeline has been specified for the contract award
Egypts President Abdul Fattah al-Sisi has met with a delegation from Chinas Avic International and China Railway Group as part of the ongoing negotiations for the $1.5bn light railway transit (LRT) in 10th of Ramadan City.
It is understood that the negotiating parties are hoping to finalise the financing model for the scheme.
MEED earlier reported that negotiations for the deal have reached a final stage and that the contract is a direct order
A source familiar with the scheme told MEED in May that the project will likely use a combination of engineering, procurement and construction (EPC) and financing model.
The same source has indicated that a commercial contract is scheduled to be drafted and presented for approval to the Export-Import (Exim) Bank of China, which will provide funding for the project.
No specific timeline has been given for the final award of the contract.
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