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FINANCIAL NEWS
French finance to develop Egypt’s El-Raml tram at 100mn euros
17 May 2017
(MENAFN) The French Development Agency has inked a 100mn euros finance deal with the Egyptian government in order to enhance El-Raml tram in Alexandria.
Accordingly, the new projects plans to develop the old tram and building and new 900 meter-long station between Al-Raml and El-Manshia.
The new project will reduce the journey time by half and is projected to serve 75-100mn passengers yearly, as stated Minister of Investment and Intl Co-op.
Additionally, the cost of the project will reach 360mn euros, with European Investment Bank to finance almost 180mn euros, while AFD will supply a finance facility of 100mn euros.
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MENAFN1705201700450000ID1095485967
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