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The proposed deal covers the maintenance and development works of 23 cars on Line 1 Helwan-El Marg, in addition to another 35 on Line 2 Shobra el Kheima-El Monib.
The Japanese and Egyptian sides are currently in talks to reduce the offer value as well as its rate, sources told Al Mal.
Officials from Mitsubishi will reportedly hold several meetings in the coming days, in the presence of the Japanese Ambassador to Egypt Masaki Noke, to discuss the deal financially and technically.
Last year, the Egyptian National Authority for Tunnels awarded a Mitsubishi Corporation-Orascom consortium the implementation contract for the first phase of Cairo Metro Line 4.
*At press time, the conversion rate is EUR 1 = EGP 18.41
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