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VINCI : Opening of Phase 1 of Line 3 of the Cairo metro

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02/22/2012 | 02:05am EDT

Regulatory News:

VINCI (Paris:DG):

Line 3 of the Cairo metro was opened on 21 February 2012. This first phase includes five underground stations (Attaba, Bab el Shaaria, El Geish, Abdou Pasha and Abbasia) and serves the eastern part of Cairo from the city centre. Once completed, Line 3 will cross the Egyptian capital from east to west, from the airport to the districts west of the Nile. The development of the Cairo metro system is part of a large-scale plan aimed at serving the transport needs of the Greater Cairo area up to 2022. It will help to reduce pollution in Africa's largest metropolitan area.

3,500 people, including 85 expatriate staff, worked on this project, which took 51 months to complete. The project was built by a consortium, led by VINCI Construction Grands Projets, comprising Bouygues Travaux Publics, Orascom and Arab Contractors. The ?235 million Phase 1 civil engineering contract covered construction of a 4.2 km tunnel section and five stations. Meanwhile, VINCI subsidiary ETF-Eurovia Travaux Ferroviaires led the consortium responsible for the track works package. This included the supply and laying of 11 km of track and the power rail in the tunnel.

VINCI built the first two metro lines in Cairo, which now serve nearly four million passengers per day, and is currently working in a consortium with Bouygues Travaux Publics, Orascom and Arab Contractors on Phase 2 of Line 3 (6.5 km tunnel and five stations); Phase 2 is currently 60% completed and is scheduled for handover in early 2014. The National Authority for Tunnels (NAT) is working on the design studies for Phase 3.

VINCI have a long track record in major projects in Egypt and recently signed the design-build construction contract for the new Assiout dam on 12 December 2011.

Press contact:
Maxence Naouri, +33 (0)1 47 16 31 82

© Business Wire 2012
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Financials (€)
Sales 2019 45 905 M
EBIT 2019 5 409 M
Net income 2019 3 251 M
Debt 2019 18 297 M
Yield 2019 3,24%
P/E ratio 2019 15,41
P/E ratio 2020 14,19
EV / Sales 2019 1,56x
EV / Sales 2020 1,47x
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