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Monday, 24 September 2018

NAT to sign Cairo Metro Line 3 management contracts with RATP end-October

The National Authority for Tunnels (NAT) will reportedly sign at the end of October the management contracts for Cairo Metro Line 3 with France’s RATP, sources close to the matter tell Al Mal. The contracts, which are currently being drafted, are expected to set the exact share of the state’s profits from the line and determine a payment settlement system that also factors in RATP’s share of service and maintenance costs. The NAT had been in talks with the French public transport operator to establish a joint venture to operate Line 3 that would be split 80/20, with NAT being the majority owner. The NAT has been waiting on amendments to the law regulating its operations to finalize the agreements for the new company. Zaki Hashem & Partners are acting as legal advisors to RATP.

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