CAIRO, AUG 26 (SEE)- Minister of Transport Hisham Arafat witnessed on Sunday the signing of a framework agreement for the manufacture and supply of 32 air-conditioned trains for the third line of the metro between the Ministry of Transport and the Korean company Hyundai Rotem.
Minister of Investment Sahar Nasr and Ambassador of South Korea in Egypt were among the attendees.
Arafat stated that the total cost of the contract is € 317.8 million Euro. "It will be at an interest rate of 0.1%, to be paid in 33 years," he added.
It is worth mentioning that the signing of the executive agreement of the loan will take place in South Korea on August 28.
Arafat stated that 30 percent of the manufacturing components will be local, pointing out that Egypt will receive four trains in conjunction with the opening of the fourth phase at the end of 2019.
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