5 October 2015
Promoter – Financial Intermediary
NATIONAL AUTHORITY FOR TUNNELS
Purchase of additional rolling stock to improve services on line 2 of the Cairo metro, to alleviate traffic congestion and promote public transport in urban greater Cairo
The project is fully in line with the strategic objectives set for the Bank's external lending mandate since it will ensure continuous operation of the metro, an important social and economic infrastructure supporting Cairo's urban development, and also contribute to climate change mitigation, as greenhouse gas emissions per passenger are much lower for metro trips than for car trips.
This operation is covered by the EU Guarantee for EIB loans outside the EU.
Under ELM Guarantee
This operation is covered by the ELM Guarantee.
Proposed EIB finance (Approximate amount)
EUR 75 million
Total cost (Approximate amount)
EUR 187 million
If the project were located in the EU, the acquisition of new rolling stock would fall outside the scope of the Environmental Impact Assessment (EIA) Directive (2011/92/EU, as amended), as its construction will take place in the manufacturer's plants. This also applies to the implementation, meaning no EIA is required for the project.
The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement. In particular, calls for international tenders will be published in the Official Journal of the European Union, in accordance with the Bank's Guide to Procurement. Procurement is expected to start in the second half of 2015.
Signed - 1/12/2016