Preparations for Egypt's Press Syndicate elections under way    Saudi Arabia strikes $10 bln China deal, talks de-radicalisation with Xi    Woman's creativity turns old furniture into modern art pieces    Egypt, AfDB sign EGP 80m grant for development of entrepreneurship    Two frustrating goalless draws in UCL last 16    Mineral Wealth Law, terms of gold exploring do not attract investors: AL Raghy    Mahmoud Abdallah appointed as AUC's senior adviser to president for ERM, strategy    Egypt reopens Port Tawfik-Jeddah navigation line    Egyptian, American, Chinese cooperation to find innovative solutions for problems facing three countries    "Global company to draft new terms to benefit from Egypt's mining wealth": official source    Truckloads of civilians leave Islamic State group enclave in Syria: Reuters report    China says humanitarian aid should not be forced into Venezuela    Northern Syria administration says US troop decision will protect area    Arsenal's Iwobi hails Ozil impact but Emery keen on rotation    Klopp backs Man United interim boss Solskjaer to manage top club    Man City not expecting to bulldoze Chelsea again, says Silva    Nature protectorates cover 15% of Egypt's land area: Environment minister    Interest rates expected to drop further in Egypt throughout 2019    Egypt's constitutional amendments: Opposition says no    Egypt's preparing for consultations over constitution amendments    Last piece of stolen ancient Egyptian relief recovered from Australia: Ministry    Samsung Galaxy S10 revealed: triple cameras, ultrasonic fingerprint sensors, 5G    Cars looking for buyers    Proactive NGOs    Cleaner Nile    Saving the children    The end of Alexandria shipbuilding?    New support for exports    The Forty Rules of Love play is back at Al-Salam Theatre    Coffin returns from New York    Controversy in Islamic Cairo    India's Narendra Modi hosts Saudi crown prince    Israel arrests 40 Palestinians following closing Al-Rahma gate of Al-Aqsa Mosque    Europe, immigration and the Arab-Muslim world    AIWFF honours Menna Shalaby    Egypt's Armed Forces kill 8 terrorists in North Sinai: Statement    NGO's general union to hold meetings with civil society representatives over constitutional amendments    Court upholds adding 241 defendants to terrorist list    Three policemen killed during suicide bombing near Al-Azhar Mosque    Egypt's Supreme Organising Committee for AFCON to manage economic aspects of tournament: Madbouly    Sports critic, media figure Khaled Tawhid passes away    Comprehensive security    Berlinale 2019: Awards announced, festival concludes    Egypt in the heart of Africa    Pressing for consultations    Homegrown solutions for Africa    All hands on deck    Ismaili are back    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Related stories
Egypt to build a fast tram connecting New Administrative Capital with Greater Cairo
The project will accommodate 340,000 passengers daily
High-speed train, metro lines 5 and 6 priority for transportation ministry's investment projects: Hany Dahy
Cabinet endorses $669mn to finish phase 4 of Cairo Metro-line 3
Transportation Ministry begins two road and railway development projects in July
Negotiations with international financial institutions to raise EGP 5bn to develop 1,200 km of railway
China, Egypt seal electric train deal as Xi tours Mideast


Egypt signs $1.2bn worth agreement with Exim Bank of China to finance 1st electric train
Signing ceremony was witnessed by Prime Minister Moustafa Madbouly
Daily News Egypt Published in Daily News Egypt on 17 - 01 - 2019

An agreement was signed on Wednesday between the Chairperson of the National Authority for Tunnels (NAT), Ahmed Fouda, and the Vice Chairperson of the Export-Import Bank of China (Exim Bank), Chi Ping, to provide a facilitated loan of $1.2bn for the implementation of Egypt's first electric train.
The signing ceremony was witnessed by the Prime Minister Moustafa Madbouly, the Minister of Investment Sahar Nasr, and the Minister of Transport, Hesham Arafat.
The new railway will link the 10th of Ramadan City on the outskirts of Cairo to the New Administrative Capital. It will target the new cities of El Salam, El Obour, El Shorouk, Al Mostakbal, Al Roubiki, and the New Administrative Capital.
Following the signing, Arafat said that the project will include 11 stations and serves 350,000 people, noting that the existing railway services 1.1 million people.
The bank has agreed on a loan of $1.2bn, of which $739m with 1.8% interest rate are for infrastructure and $461m with 2% interest rate are for the trains, to be paid over 15 years with a 5-year grace period. The minister pointed out that the loan agreement was signed in September 2018 during the visit of President Abdel Fatah Al-Sisi to China.
Arafat stressed that the speed of the train will reach 120km/h, and the length of the railway is 67.8km, including 60km of flat area, 7.5km of bridges, and 0.3km of tunnels. The new railway will start from Adly Mansour exchange station that intersects with the Metro Line 3, crossing all the way through the Cairo-Ismailia desert road to Al Rubiki city. There, it will branch into two parts. One will head North alongside the regional ring road, serving the 10th of Ramadan City, and the other will head south from Al Rubiki station to the New Capital. In the second phase, the line is planned to extend to the Sports City at the intersection of Ain Sukhna road with the regional ring road, making the line's length 93km.
The minister explained that this agreement came after long negotiations over the method of operating the new line for it to be different from the old one, in order to avoid the intersections and lanes that exist in the current railways. The new system of railways will rely on bridges and tunnels to avoid the mistakes of the past 70 years.

Clic here to read the story from its source.