{"id":577499,"date":"2022-11-24T04:03:31","date_gmt":"2022-11-24T04:03:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/transmin-wants-eur-2-bn-french-loan-to-fund-metro-line-6\/"},"modified":"2022-11-24T04:03:31","modified_gmt":"2022-11-24T04:03:31","slug":"transmin-wants-eur-2-bn-french-loan-to-fund-metro-line-6","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/transmin-wants-eur-2-bn-french-loan-to-fund-metro-line-6\/","title":{"rendered":"TransMin wants EUR 2 bn French loan to fund Metro Line 6"},"content":{"rendered":"

Among the other stories we\u2019re paying attention to this morning:<\/strong><\/p>\n

<\/a> TRANSPORT-<\/strong> The Transport Ministry<\/strong> is in talks with three unnamed French financial institutions for a concessional EUR 2 bn loan<\/strong> to fund development works for Cairo Metro Line 6<\/strong>, sources familiar with the matter reportedly told Al Mal<\/a>. They said the financing represents half of the line\u2019s total cost, with the remainder being funded by the state budget. The report comes less than a week after French rolling stock manufacturer Alstom signed a framework agreement<\/a> on the sidelines of COP27 with the National Authority for Tunnels to design, build and maintain the line. The French firm didn\u2019t disclose which other companies will work on the project or the value of the contract.<\/p>\n

TECH- The <\/strong>2Africa subsea cable<\/a><\/strong> being laid around Africa has made its first <\/strong>landing in Egypt <\/strong>at Ras Ghareb with another landing set to follow in Port Said, Meta and Telecom Egypt said in a joint press release (pdf)<\/a> Tuesday. The subsea cable, which will be the longest in the world, is being laid by a consortium of global telecom companies, and will significantly upgrade Africa\u2019s broadband and mobile connectivity when it\u2019s finished in 2024. The 45k-km cable will link 46 locations across Africa, Europe and Asia.<\/p>\n\n\n
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BANKING-<\/strong> The Financial Regulatory Authority<\/strong> has approved Abu Dhabi Islamic <\/strong>Bank Egypt\u2019<\/strong>s proposed EGP 1 bn capital increase<\/strong>, it said in a statement (pdf)<\/a> Monday, allowing the bank to publish an invitation to subscription for existing shareholders. ADIB will offer an additional 100 mn shares at EGP 10 per share to existing investors.<\/p>\n

FINANCIAL SERVICES-<\/strong> Jordan trading platform CFI Financial Group<\/a><\/strong> has acquired Egyptian brokerage El Mahrousa for Securities Trading<\/a><\/strong> and plans to launch CFI in Egypt in early 2023, Al Borsa<\/a> reports.<\/p>\n

LEGISLATION- <\/strong>The Senate Housing Committee<\/strong> approved legislation<\/a> designed to accelerate the reconciliation process for illegal buildings<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Among the other stories we\u2019re paying attention to this morning: TRANSPORT- The Transport Ministry is in talks with three unnamed French financial institutions for a concessional EUR 2 bn loan to fund development works for Cairo Metro Line 6, sources familiar with the matter reportedly told Al Mal. They said the financing represents half of […]<\/p>\n","protected":false},"author":1,"featured_media":577500,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,1249,214,72,187,392,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-alstom","tag-cit","tag-enterpriseam","tag-legislation-watch","tag-senate","tag-transport","wpautop","entry"],"acf":{"mongo_id":"d70b440b-5c93-422b-b1fa-00072f53fd74","order":"0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/392.jpg","photo_position":"above","related_issue":[577477],"teaser":"","voice_url":""},"yoast_head":"\nTransMin wants EUR 2 bn French loan to fund Metro Line 6 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/transmin-wants-eur-2-bn-french-loan-to-fund-metro-line-6\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TransMin wants EUR 2 bn French loan to fund Metro Line 6\" \/>\n<meta property=\"og:description\" content=\"Among the other stories we\u2019re paying attention to this morning: TRANSPORT- The Transport Ministry is in talks with three unnamed French financial institutions for a concessional EUR 2 bn loan to fund development works for Cairo Metro Line 6, sources familiar with the matter reportedly told Al Mal. 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The agreement, signed during the TransMea transport conference yesterday, will see the French company provide 55 new\u2026","rel":"","context":"In "Transport"","block_context":{"text":"Transport","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/transport\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/376.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582113,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/13\/three-global-firms-reportedly-eyeing-contract-for-metro-line-1-upgrades\/","url_meta":{"origin":577499,"position":2},"title":"Three global firms reportedly eyeing contract for Metro Line 1 upgrades","author":"enterpriseam admin","date":"13 February 2023","format":false,"excerpt":"TRANSPORT- Three international companies have their sights set on developing Metro Line 1: Germany\u2019s Siemens and French firms Alstom and Colas submitted separate offers late last year in a government tender to develop Cairo\u2019s oldest metro line, Al Mal reports, citing sources it says are in the know. Italian consulting\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\/2021\/8\/metro-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","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":577499,"position":3},"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":577343,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/20\/alstom-to-work-on-cairo-metro-line-6\/","url_meta":{"origin":577499,"position":4},"title":"Alstom to work on Cairo Metro Line 6","author":"enterpriseam admin","date":"20 November 2022","format":false,"excerpt":"Alstom signs Metro Line 6 framework agreement: French rolling stock manufacturer Alstom signed a framework agreement with the National Authority for Tunnels to design, build and maintain Cairo Metro Line 6 on the sidelines of the COP27 summit, the company said in a statement picked up by Zawya. The 27-station,\u2026","rel":"","context":"In "Transport"","block_context":{"text":"Transport","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/transport\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/297.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563775,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/15\/also-on-our-radar-alstom-finishes-automated-rail-signalling-outside-assiut\/","url_meta":{"origin":577499,"position":5},"title":"Also on our Radar: Alstom finishes automated rail signalling outside Assiut","author":"enterpriseam admin","date":"15 July 2021","format":false,"excerpt":"Other things we\u2019re keeping an eye on this morning: French rail manufacturer Alstom has installed (pdf) an automated signalling system on the 15-km Quseia section of the Beni Suef-Assiut railway line.The National Bank of Egypt (NBE) has rolled out (pdf) a new instant money transfer service that allows the state-owned\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=577499"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577499\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/577477"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/577500"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=577499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=577499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=577499"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=577499"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=577499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}