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English news

12-Jul-2017

Egypt signs USD4bn deal to build new metro line, 40 of materials to be locally produced

Egypt signed Tuesday a MOU with Canadian plane and train manufacturer, Bombardier Inc., to finance and construct Cairo’s 20km sixth metro line with an initial cost estimated at USD4bn. The deal was announced by the Egyptian Minister of Transportation Hesham Arafat, who said the project will reduce pressure on the metro's existing Line 1. The deal stipulates that at least 40% of the materials used locally produced, according to a statement released by the Ministry of Transportation. No specific timeframe for the construction project has been announced. 

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