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Central Government/Public Sector | Not Classified - Egypt | PID: 195287
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The government of Egypt through the Ministry of Transport is currently working on a memorandum of understanding (MoU) with Bechtel Corporation, an American engineering, procurement, construction, and project management company, for the construction of a 30 km Cairo Metro Line 6
The project is estimated to cost about USD five billion. The government has already secured finance for the Metro Line from Canada, the United States, the United Kingdom, France, and Japan
Egypt’s National Railways Industry Company on the other hand has signed an agreement with South Korea’s Hyundai Rotem to modernize Cairo’s Metro System
This agreement covers the manufacturing of more than 800 Metro cars and the supply of new lines, which comes as part of the modernization of the first and second Cairo Metro Lines
Under the Phase-I of the agreement local components will make up 29.9 percent of Metro cars in the first two years, rising to 50 percent in the following couple of years, and then jumping to 75 percent after six years
| Updated on: 13 - May - 2021
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