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FINANCIAL NEWS
Egypt signs deal with Canada’s Bombardier for USD4bln
15 Jul 2017
(MENAFN) Egypt signed memorandum of understanding with Canadian Bombardier Inc, the plane and train manufacturer to fund and construct Cairo’s sixth metro line.
Egyptian Transportation Minister Hesham Arafat announced the deal and said the project will reduce pressure on the metro’s existing Line 1.
Chairman of the National Authority for Tunnels (NAT), has signed the deal in Cairo with Laurent Bouyer, Bombardier”s Vice President of Marketing and Sales for Western Europe, Middle East, and Africa.
In details, the sixth line will cover over 20 kilometres parallel to the first line, with a total of 24 stations, 12 of them underground, and its initial cost at USD4bln.
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MENAFN1507201700450000ID1095624441
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