CAIRO: An agreement to fund and execute two projects to develop Alexandria’s tram and the Heliopolis tram in Cairo will be signed during French President Francois Hollande’s visit, Youm7 reported Thursday.
An official source at the Transport Ministry told Youm7 the agreement will be signed by the Egyptian government, the French Development Agency and the European Investment Bank.
Egypt will take out a 300 million euro loan to finance the construction Alexandria’s tram, that stretches from Victoria to the Raml station.
The project is expected to reduce noise and reduce the time between each train to 20 minutes rather than up to 70 during rush hour, Meseiry said.
The tram is heavily used by Alexandrians, much like the metro in Cairo. Seven people in Alexandria were killed in October of electric shock after a tram power cable fell into rainwater flooding the street.
Contracts with French rail consultancy firm Systra and French company Vinci will also be signed during Hollande’s visit next week to establish a 17.7-kilometer metro line from Ataba to Imbaba, according to Youm7.
President Abdel Fatah al-Sisi approved Thursday an October agreement with the French agency to fund a project to develop slums and promote employment with a grant of 15 million euros.