Egypt and South Korea signed a EUR 243 million contract for the manufacture and supply of 32 metro cars. The contract was signed between the Egyptian Investment and International Cooperation Minister, Sahar Nasr and South Korea’s Ambassador to Egypt, Yoon Yeocheol, according to an Investment Ministry statement.
“Funding for the contract will come from the Korea Economic Development Cooperation Fund. The cars will be used for the third and fourth phases of Cairo Metro Line 3, with the first four scheduled for delivery in time for the inauguration of Phase 4B of the line at the end of 2019”, Egyptian Transport Minister, Hisham Arafat, informed.
Minister Arafat then said that the contract was signed with South Korean rolling stock manufacturer Hyundai Rotem.
The remaining cars will be delivered at a rate of one per month. The order makes up the second half of the 64 metro cars the Cairo government had planned to purchase for the new line.
The Cairo metro Line 3, which connects the central Abbasiya district and the northeastern suburb of Heliopolis, currently has 15 operating trains. More than 3 million people use the system everyday throughout greater Cairo.
The third stage of the metro line spans over 17.7 kilometers and includes 15 stations, while the fourth stage spans over 11.5 kilometers and includes 10 stations.
The local media reports that this is a local assembly project in which the winning South Korean bidder will be sourcing 30% of the metro cars’ components in Egypt.
According to the Ministry of Investment and International Cooperation, the Egyptian government is currently consulting with the French government to finance the fifth and sixth lines of Cairo metro.
We remind that in 2017 Egypt signed a EUR 350 million contract with Korea’s Hyundai Rotem for the delivery of 32 metro cars.