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FinancialNews


  • 17-05-17

    French finance to develop Egypt's El-Raml tram at 100mn euros

    (MENAFN) The French Development Agency has inked a 100mn euros finance deal with the Egyptian government in order to enhance El-Raml tram in Alexandria.

    Accordingly, the new projects plans to develop the old tram and building and new 900 meter-long station between Al-Raml and El-Manshia.

    The new project will reduce the journey time by half and is projected to serve 75-100mn passengers yearly, as stated Minister of Investment and Intl Co-op.

    Additionally, the cost of the project will reach 360mn euros, with European Investment Bank to finance almost 180mn euros, while AFD will supply a finance facility of 100mn euros.

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