Orascom, Bombardier to build $1.5 billion monorail in Egypt

Canada's Bombardier Inc and Egypt's Orascom Construction and Arab Contractors will build a $1.5 billion monorail near Cairo, Egypt's housing minister said.

The 52 kilometer (32 mile) project is set to be completed by mid-2018 with funding from a 14-year loan, Mostafa Madbouly said in a statement, without saying who was providing the funds.

The train will connect the Cairo metro system, which is being expanded, to areas west of the capital including 6th of October City and Sheikh Zayed.

Cairo, a centuries-old metropolis where more than 20 million people reside, has suffered for years from crumbling infrastructure and neglect. Improved public transport could help reduce congestion in streets where commuters compete with commercial traffic, three-wheeled tuk-tuks and donkey carts.