We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Tue 20 Mar 2012 10:12 AM

Font Size

- Aa +

Egypt to get US$392m for new metro line

Loan from the Japan International Cooperation Agency is to fund Cairo's fourth metro line

Egypt to get US$392m for new metro line
Construction on the line is set to begin in September and will take 7 years.

Egypt will receive a US$392m loan from the Japan
International Cooperation Agency (JICA) to fund the construction of Cairo's
fourth metro line, Egypt's planning minister said on Monday after signing the
agreement.

The amount is the first tranche of a US$1.28bn loan that carries an interest rate of 0.2 per cent, Planning and International
Cooperation Minister Faiza Abu El-Naga said.

The new line, costing an estimated EGP15bn(US$2.49bn), is to run from the northwestern suburb of Sixth of
October City via the site of a new Egyptian museum near the Pyramids of Giza to
a district south of downtown.

Construction is set
to begin in September and expected to take seven years to finish. Egypt last
month inaugurated the first phase of the third line, running from the city centre
to the airport in the northeast.

Arabian Business: why we're going behind a paywall

For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.