EBRD, NIB among banks in talks over $1.7bn Cairo Metro project

Egypt is in talks with a number of banks, including the European Bank for Reconstruction and Development, French Development Agency, and the European Investment Bank, to help finance the Cairo Metro Line 1 at a cost of around EGP 32 billion ($1.7 billion).

The six-year plan will cover replacing the electrical system with a developed one, boosting the efficiency of the infrastructure, and replacing the signalling system.

The plan also includes manufacturing and supplying 32 new trains, in addition to changing turnstiles in all of the metro stations.