{"id":610849,"date":"2023-11-28T00:00:00","date_gmt":"2023-11-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/28\/chinese-firms-to-secure-usd-250-mn-loan-for-cairo-light-rail-expansion\/"},"modified":"2023-11-28T00:00:00","modified_gmt":"2023-11-28T00:00:00","slug":"chinese-firms-to-secure-usd-250-mn-loan-for-cairo-light-rail-expansion","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/28\/chinese-firms-to-secure-usd-250-mn-loan-for-cairo-light-rail-expansion\/","title":{"rendered":"Chinese firms to secure USD 250 mn loan for Cairo light rail expansion"},"content":{"rendered":"

More money for the new capital light rail project:<\/strong> The Chinese consortium contracted to work on the fourth phase of Cairo\u2019s light rail transit (LRT) system will arrange a USD 250 mn soft loan from a syndicate of international banks to help finance the project, Asharq Business<\/a> reports, citing government officials it says are familiar with the matter.<\/p>\n

Remember: <\/strong>AVIC International Holding Corporation and China Railway Major Bridge Engineering Group signed a framework agreement<\/a> with the state-run National Authority for Tunnels (NAT) earlier this month to construct the 16-km fourth phase of the LRT that will extend the line to Tenth of Ramadan City. AVIC \u2014 the main contractor<\/a> for the LRT project \u2014 also signed an MoU for the fifth phase of the project that will reach into the new capital.<\/p>\n

Where the money\u2019s going:<\/strong> The loan will be used to install electrical and mechanical systems, including centralized traffic control, and signaling and communications equipment, according to one of Asharq\u2019s sources. The NAT will be responsible for covering the costs of the civil works, which include building the stations and laying the tracks. Such costs will be estimated before the end of the current fiscal year in June, the sources said.<\/p>\n

The LRT is getting a lot of love from China: <\/strong>The Export-Import Bank of China (China Eximbank) reportedly agreed in September to lend the government USD 400 mn<\/a> to finance the third phase of the project, which will also be implemented by AVIC. The Chinese lender agreed back in 2019 to provide a USD 1.2 bn loan<\/a> for the initial phases of the LRT\u2019s construction.<\/p>\n","protected":false},"excerpt":{"rendered":"

The funds will be used to install electrical and mechanical systems<\/p>\n","protected":false},"author":1,"featured_media":610850,"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":[7274],"tags":[88,975,72,7101,207,208],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-610849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-egypt-china-relations","tag-enterpriseam","tag-railways","tag-transport","tag-transport-ministry","wpautop","entry"],"acf":{"mongo_id":"f4b7c17d-59c3-4962-a957-1304b22d5370","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/1535.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Chinese firms to secure USD 250 mn loan for Cairo light rail expansion","related_issue":[610840],"teaser":"The funds will be used to install electrical and mechanical systems","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.17ce2ac3-6059-455a-b637-3df3589652cc.mp3"},"yoast_head":"\nChinese firms to secure USD 250 mn loan for Cairo light rail expansion - 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The loan would finance completion of the delayed project, adding 20.4 km and\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/2.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":609567,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/07\/chinese-firms-eye-big-rail-infrastructure-contracts-in-egypt\/","url_meta":{"origin":610849,"position":1},"title":"Chinese firms eye big rail infrastructure contracts in Egypt","author":"enterpriseam admin","date":"7 November 2023","format":false,"excerpt":"A new high-speed rail line connecting Port Said and Abu Qir might be in the works","rel":"","context":"In \"Egyptian National Railways\"","block_context":{"text":"Egyptian National Railways","link":"https:\/\/enterpriseam.com\/egypt\/tag\/egyptian-national-railways\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/319.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":610811,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/27\/this-evening-two-chinese-companies-are-loaning-us-usd-250-mn-for-the-lrt-project\/","url_meta":{"origin":610849,"position":2},"title":"THIS EVENING: Two Chinese companies are loaning us USD 250 mn for the LRT project","author":"enterpriseam admin","date":"27 November 2023","format":false,"excerpt":"Good afternoon, friends, and welcome to this manic Monday. We have a busy issue with you packed with some COP28 and AI updates. THE BIG STORY TODAY Fresh funds for the LRT project from China: Chinese companies AviationIndustry Corporation of China (AVIC) and China Railway Major Bridge Engineering Group will\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/66.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":610849,"position":3},"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":685375,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/19\/egypt-taps-china-exim-bank-for-cny-lrt-loan-to-bypass-usd-overreliance\/","url_meta":{"origin":610849,"position":4},"title":"Egypt taps China Exim Bank for CNY LRT loan to bypass USD overreliance","author":"enterpriseam admin","date":"19 February 2026","format":false,"excerpt":"The move is part of a larger move to diversify our creditor base away from banks\u2019 and Bretton Woods institutions\u2019 USD-centric financing options","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\/2026\/2\/1236.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543488,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/03\/afc-wants-to-invest-usd-250-mn-in-monorail-high-speed-rail-projects\/","url_meta":{"origin":610849,"position":5},"title":"AFC wants to invest USD 250 mn in monorail, high-speed rail projects","author":"enterpriseam admin","date":"3 February 2022","format":false,"excerpt":"Multilateral lender Africa Finance Corporation (AFC) is looking to partially bankroll our monorail and high-speed train projects with a USD 250 mn facility, Al Mal quoted Sameh Shenouda, AFC\u2019s executive director and CIO as saying. The Transport Ministry is currently looking into AFC\u2019s proposal, but the two sides have not\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\/2\/36.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/610849","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=610849"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/610849\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/610840"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/610850"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=610849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=610849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=610849"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=610849"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=610849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}