The House of Representatives approves agreements to implement new projects in the transportation sector

Representative Alaa Abed, Chairman of the Transport and Communications Committee in the House of Representatives, reviewed before the plenary session of the House of Representatives, today, Monday, headed by Counselor Dr. Hanafi Jabali, the report of the joint committee from the Transport and Communications Committee, and the offices of the Foreign Relations, Economic Affairs, and Plan and Budget Committees on the President of the Arab Republic of Egypt’s Resolution No. 325 of 2023 regarding approval of letters exchanged between the Government of the Arab Republic of Egypt and the Government of Japan (Japan International Cooperation Agency “JICA”) to implement the project of the first phase of the fourth line of the Greater Cairo Subway “Third Tranche”, signed in Cairo on 4/20/2023.

Representative Alaa Abed said that, according to the agreement, the Egyptian government will repay the JICA loan, which is directed to… Implementation of the first phase of the fourth metro line, over a period of 30 years, in exchange for Interest rate of 0.1% annually.

He stated that the first phase of the line, which was completed in October 2021, will extend… It is 19 kilometers long, starting from the Al-Ashjara neighborhood on the border of 6th of October City, passing through The pyramid area, all the way to the Fustat neighborhood in ancient Egypt, and it is expected to be opened at the end of 2025.

The agreement includes a grace period of up to 10 years from its entry into force. The start of the actual disbursement of financing that covers part of the construction work of stations and systems. For signals, communications, electrical and mechanical works, and the deal for the trains that will operate on Why later?