It is responsible for providing the train with the motive power required.Moreover, the bank is set to fund Egypt with €2.96 million (LE 61.4 million) in mutual technical cooperation, according to the Gazette. This fund is not part of the €100 million deal.In details, €2 million will be allocated to support the feasibility study carried out to establish the 24 km fifth metro line that connects 17 stations. The Gazette also mentioned that €350,000 will fund Egypt’s Land Transport Regulatory Commission, while €250,000 will be given to the Egyptian Company for Metro Management and Operation.The rest of the €2.96 million fund will be allocated to support Egyptian efforts aiming to improve the metro service, helping the country prepare gender equality studies, consider people with special needs, and empower youth.Signing a deal with South Korea’s Hyundai Rotem,for the third and fourth metro lines which are under construction.Minister of Transportation Hisham Arafat said that the deal is worth €317.8 million (LE 6.6 billion) in addition to LE 640 million (€30.8 million). The line runs from El-Marg located in the north-east of Cairo to Helwan, south of Cairo.In July, the Ministry of Transportation announced an urgent and comprehensive plan worth billions of pounds to develop and upgrade the infrastructure of the subway system in Cairo.The plan directs a great deal of attention to raising the efficiency of the oldest metro line. A total of 850 ticket booths were already installed in April.In March 2017, the metro fare increased from a flat fee of LE 1 ($0.056) that had been set for 11 years, to LE 2, regardless of the number of stations travelled.

Source: Egypt Today August 26, 2018 15:45 UTC