Public Management

Egypt’s govt plans $32bln investment to expand the Cairo metro over 2020-24

Egypt’s govt plans $32bln investment to expand the Cairo metro over 2020-24
Wednesday, 08 July 2020 15:30

Egypt announced a total of 22 projects to be carried out under the program to expand the Cairo metro. Until 2024, the government plans to disburse EGP512 billion ($32 billion), the minister of transport, Kamel El-Wazir (pictured), reported.

Eight projects have already been implemented for an investment of EGP33.1 billion ($2.1 billion), six projects are being implemented for EGP228.5 billion ($14 billion), while another eight projects will be launched later this month with a budget of EGP250.5 billion ($16 billion), the minister said during a meeting with officials of the National Authority for Tunnels (NAT) on July 6.

Reviewing the progress of work on the 3rd line of the Cairo Metro, he noted that Phase 3 of the construction site has reached a 36% completion rate. This segment extends over 17.7 km with 15 stations. Once completed, the third line of the Cairo metro, implemented in four phases, will cross the Egyptian capital from east to west from the airport to the western districts of the Nile. It will have 34 stations over 43.5 km. According to the Minister, the total capacity of the Cairo metro (lines 1 and 2 included) will be increased to 3.5 million passengers per day.

It should be recalled that as part of the construction work on line 3, Egypt inaugurated the largest metro station in Africa and the Middle East on 20 October 2019. Called Heliopolis Station, this facility, worth around $116.8 million and entirely financed by the Egyptian government, is built on 10,000 square meters. According to the government, its commissioning will help Egyptians save nearly $14.2 million in public transportation costs.

Romuald Ngueyap

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Carrefour signed a franchise and supply agreement to enter Ethiopia with Midroc’s Queens Supermarket PLC. The partners will convert 13 existing stores...
Ecobank Nigeria repaid about $245 million, or more than 80%, of its $300 million Eurobond due in February 2026. The early repayment reduced...
Development Partners International sold its 20.17% stake in Atlantic Business International for more than $200 million. The transaction valued...
The Alliance of Sahel States plans to create a joint purchasing agency covering Mali, Burkina Faso, and Niger. The initiative aims to regulate cereal...
Most Read
01

The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...

AES Launches Confederal Investment Bank: A Strategic Pivot Toward Sahelian Financial Sovereignty
02

Gabon names Thierry Minko economy and finance minister in Jan. 1 reshuffle Move follows tra...

Gabon Appoints Thierry Minko Economy Minister in Post-Transition Reshuffle
03

Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...

Togo Overhauls Anti-Money Laundering Rules to Meet Global Standards
04

Ethiopia agreed in principle with investors holding over 45% of its $1 billion eurobond due 2...

Ethiopia Secures Preliminary Eurobond Restructuring Deal With Private Investors
05

Heirs Energies acquires M&P’s 20% Seplat stake for $496M, exiting french group Maurel & Pro...

Heirs Holdings Push Oil Equity Production to 50,000 Barrels Per Day Following $496 Million Share Acquisition in SEPLAT
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.