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Wednesday, 30 May 2018

NAT wants another EUR 500 mn for Cairo Metro Line 3

NAT wants another EUR 500 mn for Cairo Metro’s Line 3: The National Authority for Tunnels (NAT) is reportedly in talks with international lenders for EUR 500 mn in fresh financing for the final stretch of the Cairo Metro’s third line, an unnamed official tells Al Mal. The French Development Agency (AFD), which is already providing the project with some EUR 300 mn in loans, is at the top of the list, according to the source. The line will connect Heliopolis to Cairo International Airport. The European Investment Bank is lending Egypt around EUR 600 mn for Line 3, where Orascom Construction and a JV comprised of VINCI, Bouygues, and Arab Contractors broke ground on last week. We’ve been hearing that Transport Minister Hisham Arafat has been meeting with the AFD over the last several months to discuss additional funding for the Cairo Metro and Alex tramway.

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