CAIRO: The National Authority for Tunnels (NAT) will name the company that will dig the Third Phase of the Third Metro Line by the end of January head of NAT’s Central Administration Tarek Aboul Wafa told Youm7 Thursday.
The Third Phase extends from Ataba to Imbaba and Beaulac at an estimated cost of 10 billion EGP ($1.2 billion,) Aboul Wafa said, adding that Egypt will choose a French company or a Spanish company after the two met all the Egyptian conditions.
On Thursday, Egypt signed an agreement with the European Investment bank to receive a loan of 600 million euros to fund the project. Meanwhile, the French Development Agency will loan Egypt 300 million euros and grant it 40 million euros, according to Aboul Wafa.
The Third Phase of the Third Metro Line project is planned to connect Imbaba and Mohandiseen west of the Nile, and pass under the Nile River to Zamalek and continue to Attaba, Abassiya, Cairo Stadium, Heliopolis and the Cairo Airport.
The entire Third Metro Line extends over 47.87 kilometers with 39 metro stations.
Cairo subway is essential for transporting millions of people every day; huge traffic jams occur above the ground if the metro is out of services.