The European Investment Bank may award Egypt’s National Authority for Tunnels (NAT) a EUR 150 million financing for the rehabilitation of Blue tram line in Alexandria (or Raml tram line).
The total value of the project is EUR 300 million which currently is under EIB’s appraisal for funding.
The project consists of the rehabilitation of a 13.8-km long tram line in Alexandria which passes through 28 stations and is used by 12 percent of the city’s commuters daily. The project includes grade separating parts of the tracks as well as the purchase of new rolling stock.
This year, the Ministry of Investment and International Cooperation and the French Development Agency (AFD) signed a EUR 100 million loan agreement for Raml tram line which also envisages a 900m extension from Al-Raml Square to Ahmed Orabi Square in Al Manshiya.
The project is scheduled to be completed in 2022 and will increase passenger capacity to 300,000 passengers per day, from 100,000 passengers.