Cairo – Mubasher: Around 75% of the first phase in El Fangary Axis has been completed at EGP 275 million, said the head of the central housing authority affiliated to the Egyptian Ministry of Housing on Thursday.
Mohamed Nasser stated that the Axis will be executed on four phases at a total investment cost of EGP 2 billion, according to a statement.
El Fangary Axis links the Ring Road in the east to the Cornish, westward.
The Axis will help reduce the travel distance between the eastern and western ends of Cairo, Nasser said.
The overall project entails the construction of a bridge above the Kobba Bridge at an estimate cost of EGP 500 million, and will also be linked to the Rod El Farag Axis, at an estimate cost of EGP 850 million, the statement said.
