Frances Vinci has been selected to undertake the main contract for the third phase of the Cairo Metros Line 3.
Vincis technical offer is understood to have scored better than Spains Obrascon Huarte Lains (OHLs), the only other bidder, despite offering a higher price for the scheme.
Vinci is understood to have offered £E9bn ($1bn) for the deal.
The formal signing of the agreement is expected within a few weeks, according to a source familiar with the project.
Phase three of the third metro line will extend from Attaba to Kitkat, via Rod el-Farag and on to Cairo University. It will be built in three parts, with the entire phase to be completed by 2018. The total length of the line will be 17.7km and will include 15 stations. The cost of this phase is estimated at $1.8bn.
A consortium, led by Orascom Construction and including Frances Alstom, the UKs Colas Rail and the local Arab Contractors, had earlier won the electromechanical and systems contract for the third phase. The signalling and telecoms system and infrastructure is being provided by Alstom. The total value of the two signalling and telecoms deals is $204m. Orascoms part of the contract is worth about $113m.