Iraq is close to awarding the multi-bln dollar Baghdad Metro project to a consortium of France’s Transport giant Alstom and Hyundai of South Korea, according to a local news report from the official Arabic language daily Alsabah.
The contract will be signed after the cabinet approves allocations for the project following Parliament’s endorsement of the 2023 state budget and record capital spending.
“The Transport Ministry will sign an agreement with Alstom and Hyundai consortium for the execution of the project and the purchase of trains,” the paper said, quoting Transport Ministry spokesperson Shada Radi.
Officials have said the project, which involves building a 22-km rail network and 14 train substations, would cost around USD 2.5 bln.
