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    Reference: 20160947
    Release date: 6 October 2017

    Promoter – Financial Intermediary

    NATIONAL AUTHORITY FOR TUNNELS

    Location

    Description

    The project consists of rehabilitation of metro line 1 of the Cairo metro network. The rehabilitation includes the renewal of the signalling system, telecommunications equipment, centralised control system, power supply, track repairs and the electrical and mechanical systems.

    Objectives

    The project is expected to deliver significant time savings to existing users of metro line 1 and to provide additional capacity to accommodate an increasing demand that would otherwise be absorbed by less environmentally friendly modes of transport. The upgrade of the metro line will improve the reliability of the existing metro service and further reduce headways during peak hours. It will represent a fast and affordable transport solution to the population, in particular to those who cannot afford owning a private car. Furthermore, the project will result in vehicle operating cost savings, lower air emissions and less accidents stemming from the expected modal shift from road to public transport.

    Comments

    Funding for this project could be part of the EIB's new "Economic Resilience" initiative aimed at strengthening economic resilience in neighboring countries by modernizing and expanding economic and social infrastructure and stimulating growth Sustainable development and job creation.

    Sector(s)

    Under ELM Guarantee

    This operation is covered by the EU Guarantee for EIB loans outside the EU.

    Proposed EIB finance (Approximate amount)

    EUR 350 million

    Total cost (Approximate amount)

    EUR 770 million

    Environmental aspects

    If the project was located within the EU, it could fall under Annex II of the EIA Directive 2011/92/EC, thus requiring a decision by the competent authority to determine whether a full environmental impact assessment (EIA) has to be carried out. The Bank shall investigate environmental and social aspects during appraisal and verify that the promoter has followed the relevant EU environmental and social principles, standards and practices. The Bank shall also verify the acceptability of the project in terms of likely environmental impacts and proposed mitigation and compensation measures.

    Procurement

    The Bank will require the promoter to ensure that any procurement process is consistent with the Bank's procurement guidelines.

    Status

    Signed - 20/01/2019

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Egypt Transport