Egypt signed on Tuesday a 15-year, €1 billion-contract with French transport operator RATP Dev to manage Cairo’s third metro line, the transport ministry said.
The government sought to expand the run-down network in recent years to ease the burden on the traffic-choked streets of the capital, home to more than 20 million people.
In 2012, its third metro line went into operation stretching 47 km (29 miles) from east to west.
The €1.1 billion ($1.4-billion) contract between RATP Dev and the National Tunnels Authority to alleviate the pressure on the Egyptian Co. for the Management and Operation of the metro, which is in charge of the first and second lines, the transport ministry said.
Over three million commuters use the Cairo metro every day, but the metro company has been grappling with heavy losses and debts for years.
The government has hiked fares several times in recent years to generate funds for upkeep of the three-decade-old network.
