Egypt’s National Authority for Tunnels will sign on Wednesday the second contract on financing the electric train project, planned between the New Administrative Capital and al-Salam City, with the Chinese bank Exim, according to informed sources in the Ministry of Transport. The electric train project runs for 67.846 km, of which 61 km are surface tracks, 6.1 km are over an upper bridge and 0.665 km in tunnels. Arafat announced in December that the Transport Ministry had signed a $1.2 billion loan agreement with the Export-Import Bank of China (EXIM) to fund an electric train project linking al-Salam City, the New Administrative Capital and 10th of Ramadan City. Arafat added that the ministry would implement several train projects including the al-Ain al-Sokhna-Hurghada-Marsa Allam-Luxor express train in participation with the private sector. In 2015, CCECC was awarded a $600 million contract from Egyptian National Railways (ENR) to update Egypt’s existing railway tracks.
Source: Egypt Independent January 16, 2019 09:22 UTC