France’s AFD considers EUR 190 mn loan for Tanta-Damietta railway upgrade
The Transport Ministry is in talks with the French Development Agency for a EUR 190 mn loan to finance upgrades to the Tanta-Mansoura-Damietta railway line, a source told Al Shorouk. The government is planning to issue a global tender early next year, the source said. We noted last week that the European Investment Bank was also considering extending a EUR 90 mn loan for the project. The project involves double-tracking a 65-km stretch of the 118 km line and installing an automated signaling system. The government is planning to spend EGP 56 bn in the next five years to upgrade signaling systems across the country, EGP 17 bn of which will be acquired from foreign lenders.