Japanese company bids to execute 4th metro line with $1.2B soft loan
Passengers are seen boarding the carriages of the new metro line in Cairo on February 21, 2012, linking the central Ataba district with the subrub of Abbasiya, two of the Egyptian capital's busiest neighborhoods. AFP

CAIRO: A Japanese company has offered to execute a metro project in Giza’s busy Haram Street with a $1.2 billion soft loan, an official source at the National Authority for Tunnels (NAT,) told Youm7 Saturday.

As part of the Fourth Line of the Metro with 17 stations over 19 kilometers, the company offered an interest rate of 0.2 percent and a grace period of 10 years.

The first phase of the Fourth Line begins west of the Ring Road on the outskirts of 6 October City, passing through Hadayek al-Ahram, the Grand Egyptian Museum, Remaia Square, Haram Street, Giza and Malek Saleh.

Egypt is expanding its network of metro lines in an endeavor to ease congestion aboveground.

The Third phase of the Third Metro Line is underway at a cost of 10 billion EGP ($1.2 billion,) 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 Cairo Airport.

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