Cairo – The Egyptian cabinet approved a draft law for a financing agreement from The Export-Import Bank of Korea and Crédit Agricole CIB – Korea.

The loans aim to complete the funding of the project to supply 32 rolling stock trains for the third and fourth stages of the third metro line, according to an official statement on Thursday.

The statement was made during the cabinet’s weekly meeting presided by the Egyptian Prime Minister, Mostafa Madbouly.

On 24 August, Madbouly witnessed the signing ceremony of a contract covering the manufacture and supply of 320 new air-conditioned metro cars (40 trains) for the second and third metro lines.

The contract was signed between Egypt’s National Authority for Tunnels (NAT) and a consortium of South Korea’s Hyundai Rotem and Egypt's National Egyptian Railway Industries Co. (NERIC) at the government’s headquarters in New Alamein city.

All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).