CAIRO METRO LINE 1 UPGRADING AND RENOVATION (EIB-20160947)

Countries
  • Egypt
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
NATIONAL AUTHORITY FOR TUNNELS
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 212.14 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 180 million
Converted using 2017-10-21 exchange rate.
Loan Amount (USD)
$ 424.28 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 360 million
Converted using 2017-10-21 exchange rate.
Bank Documents
Primary Source

Original disclosure @ EIB website

Updated in EWS Oct 21, 2017

Disclosed by Bank Oct 6, 2017

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Project Description
The project consists of rehabilitation of metro line 1 of the Cairo metro network. The rehabilitation includes the renewal of the signalling system, telecommunications equipment, centralised control system, power supply, track repairs and the electrical and mechanical systems. The project is expected to deliver significant time savings to existing users of metro line 1 and to provide additional capacity to accommodate an increasing demand that would otherwise be absorbed by less environmentally friendly modes of transport. The upgrade of the metro line will improve the reliability of the existing metro service and further reduce headways during peak hours. It will represent a fast and affordable transport solution to the population, in particular to those who cannot afford owning a private car. Furthermore, the project will result in vehicle operating cost savings, lower air emissions and less accidents stemming from the expected modal shift from road to public transport.
Investment Description
  • European Investment Bank (EIB)
Contact Information
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