Egypt’s Transport Minister Kamel al-Wazir reiterated on Friday the country’s plan to lay the foundation stone for the construction of a $1.2 billion high-speed electrified train link project within April 2020.
It will coincide with the completion of the first and second parts of stations in the fourth phase of Cairo Metro’s third line, al-Wazir added in an event in London.
The minister is heading a door-knock mission from November 27 to 29 to the UK, which is organised by the British Egyptian Business Association (BEBA). The mission aimed to highlight the business opportunities in areas of education, healthcare, transportation, and national projects in Egypt such as the Suez Canal Development Axis and New Administrative Capital.
Egypt seeks to build a 68 km (42 mile) high-speed electrified train of 11 stations from Cairo to the under-construction new administrative capital. The project is financed by the Export-Import Bank of China (EximBank) through a soft loan worth $1.2 billion.
The new capital, announced in March 2015, is aimed partly to reduce crowding in Cairo but will also be home to government ministries and an airport.
