CAIRO - Egypt signed its largest investment package with Japan on Sunday directed at supporting the North African country's transportation development plan, according to a statement released by Egypt's Cabinet.
The package, valued at 100 billion yen ($734 million), will contribute to financing Cairo's metro expansion, a 30km stretch of land that would link Egypt's 6th of October City to the Giza plateau.
Aside from Japan's contribution to expanding Cairo's metro service, total Japanese investments in Egypt have so far amounted to $3 billion in more than 18 projects under Egypt's sustainable development goals, the Cabinet statement added.
The latest deal was announced during a business forum between both countries held in Cairo and attended by several Japanese and Egyptian ministers including Egyptian Prime Minister Mostafa Madbouly and his Japanese counterpart Fumio Kishida.
Kishida arrived in Egypt on Saturday at the start of a four-country African tour focusing on trade relations between Japan, Egypt, Ghana, Kenya and Mozambique.
Kishida met first with President Abdel Fattah Al Sisi to discuss ways to improve Egypt's investment climate and spur more investment there from Japan.
($1 = 136.2800 yen)
(Reporting by Momen Attallah; Writing by Adam Makary & Ahmed Tolba; Editing by Hugh Lawson)