Chairman of the National Authority for Tunnels (NAT) Ismail El Nagdy announced that the Ministry of Finance has transferred USD 1.25bn (EGP 9bn) from the state treasury to implement the final phase of the Cairo metro line 3 project. El Nagdy added that the total implementation costs for this expansion amounts to EGP 11bn (USD 1,5 bn) and the project is expected to be completed within three years. A total of EGP 80bn (USD 11,2 bn) is required to fund the wider expansion of Egypt’s metro network, which also entails building the first phase of the fourth line metro line in Cairo, in addition to building metro lines in Ismailia and Port Said under the canal. NAT Chairman stated that the Ministry has also approved EGP 7bn for the NAT to purchase new trains for the final phase of the third line, bringing the total cost of the phase to EGP 18bn (USD 2,52 bn). Implementation for metro line projects was broken down into six main units of work: central control, communications and signs, civil and electromechanical works, railway operations, mobile units, and a unit for ticket equipment.
Moreover, El Nagdy announced that bidding for implementation of phase one of the fourth line, known as the ‘Al-Haram Metro,’ has been postponed until May until the feasibility studies conducted by the Japan International Cooperation Agency (JICA) are completed, ownership of Al Haram street is resolved, and line equipment is transported.