The Transport and Communications Committee at Representatives House headed by MP Alaa Abed approved Today the President Decision No. 698 for 2020, regarding approval of a grant agreement between Egypt and the European Bank for Reconstruction and Development to modernize the Cairo Metro Line 1 (Marg / Helwan). The initial update will cost 3 million and 5,000 euros, signed on October 21, 2020.
Meanwhile, Abed affirmed that the committee fully supports the development of the first metro line and all other lines due to the increase in population, stressing that the timeline for development implementing.
The project aims to an overhaul of line systems and infrastructure, and related purchase of new rolling stock under separate funding, is intended to sustain efficient, operational service of Cairo Metro Line 1 through a period of continued network expansion and increased demand.
On other hand, the Transportation Minister Kamel El-Wazir explained that, the signed agreement from the AfD for €50 million adds to the total funding of €605 m, allocated to the renovation of the 1st Metro Line.
El-Wazir added that, the EBRD provided €205 million while the EIB provided €350 million, with an additional €145 million accounted for from the state budget for the total cost of €751 million, implemented by the National Tunnels Authority.