Cairo - Mubasher: The Egyptian transport minister Hesham Arafat has stated that the negotiations with Exim Bank of China for the organisaiton of a deal to fund the Salam – New Administrative Capital – 10th of Ramadan electric train have seen the agreement upon a group of points.
An executive agreement is expected to be signed with the bank’s president during the first half of January, Arafat said.
Both sides have agreed to raise the loan from $739 million to $1.2 billion, which will cover the train’s cost. The projected train will cover 67 kilometres
Arafat maintained that all the works related to the transfer of utilities including water, drainage, electricity, and other projects have been completed.
With the completion of the project’s studies and designs, its constructions will be initiated immediately following the signature of the loan’s agreement, the top official revealed.
