The Egyptian Government sanctioned an investment of EGP 512bln ($31,920mn) for 22 subway projects in Cairo Metro. These projects are likely to be completed by 2024, Egypt’s transport minister Kamel El-wazir’s told media on July 6. This will give an impetus to the metro work which is expected to drive domestic steel demand.
The construction of eight projects has already begun at a cost of EGP 33.1bln ($20,646mn) and the next eight projects are scheduled to commence operations at an estimated cost of EGP 250.5bln ($15635mn) this month.
Six other projects are simultaneously being executed at a cost of EGP 228.5bln ($14,226mn).
El Wazir announced in a meeting held between the head and senior officials of the National Authority of Tunnels (NAT) that the progression of the third phase of Cairo’s metro line 3 is 36% complete. The line consists of 15 stations and covers over 17.7 kilometers.