The European Investment Bank (EIB) will support the rehabilitation of Cairo Metro Line 2 and the Tanta–El Mansoura–Damietta project, both in Egypt.
EIB has signed an agreement of €1.2m with Egyptian National Authority for Tunnels. It will provide technical assistance for the feasibility study for the Cairo Metro Line 2 rehabilitation.
The Economic Resilience Initiative (ERI) will fund the project.
It will outline the upgrade and renewal of the systems on Line 2, such as infrastructure and rolling stock necessary to accommodate future capacity and passenger demands.
Additionally, it will look into extending the life of the rail system for around 25 years.
EIB also signed a cooperation agreement with the Egyptian Ministry of International Cooperation (MOIC). It will supply a grant financing of €1.5m for the feasibility study of the Tanta–El Mansoura–Damietta rail project.
The feasibility study includes an environmental and social impact assessment.
The Egyptian government expects the project to improve the safety, availability and reliability of the line, which passes the Nile Delta.
ERI will also fund the grant for this project.
EIB financing will aid in work to upgrade 118km of the Tanta-El Mansoura-Damietta railway line.
The feasibility study will help in determining the scope of the investment. The upgrade works will double the El Mansoura-Damietta rail section, currently spanning 65km.
The investment also covers re-signalling of the whole line and railway stations. A cargo yard and a cargo link to Damietta port are also under consideration.
Earlier this month, EIB agreed to invest around €600m in the Pune Metro project in the Indian state of Maharashtra.