International Cooperation Minister Rania Al-Mashat announced the inking of an agreement with the Agence Française de Développement (AFD) to finance the rehabilitation works of the Metro Line 1, with a value of €50 million.
The agreement was signed on Sunday among Al-Mashat and Stéphane Romatet, Ambassador of France to Egypt and Fabio Grazie, Regional Director of AFD in the framework of multilateral cooperation between development partners, including AFD, the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), and the National Tunnels Authority (NAT).
The minister revealed that the purpose of the project is to modernize 44 km of the Cairo metro line, and connect it with Line 2 and 3, to maintain the effective operational service of Cairo Metro during the period of continuous expansion of the network and the increasing demand on it.
Investments will increase the line’s capacity by 40% by reducing headways from 3min 30s to 2min 30s, which will improve safety, comfort and service reliability.
On his part, the Minister of Transport, Kamel El-Wazir stated that the agreement that the current €50 million adds to the total funding of €605 million allocated for the renovation of the metro line.
Metro Line 1 renovation stands at the cost of €751 million
El-Wazir added that the EBRD provided €205 million, while the EIB provided €350 million, in addition to €145 million from the state budget were allocated for the project at a total cost of €751 million, noting that the second phase will cover the purchase of metro cars at a cost of €650 million.
“AFD confirms its commitment and full support to the Egyptian authorities to improve the efficiency of urban transport systems in major communities, which enhances social inclusiveness, productivity growth and quality of life in a sustainable way for Egyptian citizens," Fabio Grazie said.
Finally, Romatet praised the efforts made to rehabilitate the Cairo metro line, saying: "The signing of this agreement is important for both countries, as it shows a new stage of historical partnership between France and Egypt, a project that extends for more than 30 years."
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