{"id":544948,"date":"2022-03-29T04:00:13","date_gmt":"2022-03-29T04:00:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/29\/were-getting-eur-777-mn-from-france-for-metro-line-1\/"},"modified":"2022-03-29T04:00:13","modified_gmt":"2022-03-29T04:00:13","slug":"were-getting-eur-777-mn-from-france-for-metro-line-1","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/29\/were-getting-eur-777-mn-from-france-for-metro-line-1\/","title":{"rendered":"We\u2019re getting EUR 777 mn from France for Metro Line 1"},"content":{"rendered":"

<\/a> France is lending us <\/strong>EUR 777 mn<\/strong> for the Metro Line 1 revamp: <\/strong>We yesterday signed a loan agreement with the French government for EUR 776.9 mn to fund the 55 new trains for Cairo Metro Line 1 being supplied by French manufacturer Alstom, according to a cabinet statement<\/a>.<\/p>\n

The terms: <\/strong>The 40-year development loan includes a 15-year grace period, with the funds to be paid back at a 0.0092% interest rate, the statement read. The state will pay nearly EGP 1.2 bn (EUR 58.8 mn) for the trains upfront.<\/p>\n

The trains: <\/strong>Some 13% of the components used to build the trains will be sourced from Egypt via the Arab Organization for Industrialization\u2019s SEMAF railway factory, the statement read. Alstom will also carry out maintenance work and supply spare parts for eight years as part of the contract, which was approved by ministers<\/a> late last year. The trains are part of a larger facelift<\/a> planned for Cairo\u2019s oldest underground line, which has been backed with hundreds of mns of EUR from the European Bank for Reconstruction and Development and other European lenders.<\/p>\n

AND- We\u2019re doing more business with Alstom. <\/strong>The National Authority for Tunnels signed an MoU with an Alstom-led French consortium to work on systems, tracks, and the manufacture and supply of \u201cmobile units\u201d for the new Metro Line 6, according to a separate statement<\/a>. The master contract for the EGP 62.4 bn line, which will run from Al Khusus city to Tora El-Balad, was awarded to US infrastructure giant Bechtel in 2020<\/a>. Alstom is also currently working on<\/a> the manufacture of monorail trains for Egypt\u2019s first monorail project.<\/p>\n

REMINDER- France <\/strong>is already giving Egypt EUR 2 bn<\/a><\/strong> in credit facilities <\/strong>for the sixth metro line.<\/p>\n","protected":false},"excerpt":{"rendered":"

France is lending us EUR 777 mn for the Metro Line 1 revamp: We yesterday signed a loan agreement with the French government for EUR 776.9 mn to fund the 55 new trains for Cairo Metro Line 1 being supplied by French manufacturer Alstom, according to a cabinet statement. 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Hyundai Rotem had signed a EUR 350 mn contract for 32\u2026","rel":"","context":"In "Automotive + Transportation"","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556568,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/31\/cairo-metro-line-1-is-getting-55-new-subway-trains-from-alstom\/","url_meta":{"origin":544948,"position":3},"title":"Cairo Metro Line 1 is getting 55 new subway trains from Alstom","author":"enterpriseam admin","date":"31 October 2021","format":false,"excerpt":"French train manufacturer Alstom will manufacture and supply 55 new trains for Cairo Metro Line 1 under a contract approved by ministers last week, the cabinet said in a statement following its weekly meeting. The company will also carry out maintenance work and supply spare parts for eight years, the\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":590195,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/16\/alstom-to-localize-manufacture-of-rolling-stock-electrical-systems\/","url_meta":{"origin":544948,"position":4},"title":"Alstom to localize manufacture of rolling stock, electrical systems","author":"enterpriseam admin","date":"16 July 2023","format":false,"excerpt":"The French rail manufacturer plans to invest EUR 300 mn in two new factories on the North Coast","rel":"","context":"In "Manufacturing"","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/573.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591491,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/frances-alstom-withdraws-from-eur-380-mn-metro-contract\/","url_meta":{"origin":544948,"position":5},"title":"France\u2019s Alstom withdraws from EUR 380 mn metro contract","author":"enterpriseam admin","date":"8 December 2019","format":false,"excerpt":"France\u2019s Alstom has walked away from a EUR 380 mn contract it was due to sign with the Transport Ministry within days to manufacture and supply 32 metro cars for the third and fourth phases of Cairo Metro Line 3, ministry sources told Al Mal. 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