Egypt Independent

€ 255 million loans from EIB to upgrade metro lines: Minster of Transport

Minster of Transport, Hesham Arafat, met Thursday with  delegations from the European Investment Bank (EIB) and the World Bank (WB) to discuss cooperation in different fields of transportation.

Arafat discussed the current situation of the metro third line with the EIB which dedicated EUR 600 million to finance its construction.

Arafat also previewed the ministry’s plan to rehabilitate the metro first and second lines in anticipation to obtain a loan worth of EUR 180 million for the first line and EUR 75 million for the second line.

Arafat clarified that the works of rehabilitating and upgrading the first line will be divided into two stages. The first stage will include renewing infrastructure, systems and signals while the second stage will include installment of movable units.

The EIB expressed interest in providing a fund for rehabilitating al-Asafra- al-Manshya metro in Alexandria after extending its line from al-Raml square to al-Manshya square.

Arafat talked with the WB delegation in the following meeting a study on restructuring railway sector in Egypt and reevaluating the service-level of passenger and cargo trains, underling that the study aims to ensure higher rates of safety in the sector.

Translation edited from al-Masry al-Youm