Japan to provide US$392mn loan for Egypt's fourth metro line

Japan_EgyptJapan International Cooperation Agency (JICA) will give Egypt a US$392mn loan to fund the construction of Cairo's fourth metro line, Egypt's planning minister said.

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

The fourth metro line is estimated to cost US$2.49 billion and will 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.

In February, Egypt inaugurated the first phase of the third line, running from the city centre to the airport in the northeast.

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

twn Are you sure that you want to switch to desktop version?