Egypt has signed preliminary deals with French consortiums for the development of the third phase in Cairo's third metro line, according to a statement by the France embassy in Egypt.
The Thales/Alstom consortium will develop the signaling and communication systems at a cost of €107 million and LE522 million.
The Colas Rail lead French-Egyptian consortium will take up the electronic installations and electro mechanics works at a cost of €296 million and LE1.6 billion.
The third phase of the newest metro line is funded by the French Development Agency, the European Investment Bank and the European Union.
The French Development Agency (FDA) is contributing €300 million to the previously announced loans, which will be repayable over 20 years with a seven-year grace period. The European Investment Bank (EIB) will contribute €600 million, to be repaid over 25 years with the same grace period. The EU contributed a €40 million grant.
Once fully completed, the third line is expected to run from Cairo airport to Cairo University, passing through downtown Cairo and the densely populated, working class district of Imbaba.