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Egypt signs transport investment deal with Japan valued at more than US$700 million
- The package will contribute to financing Cairo’s metro expansion, a 30-km stretch of land that would link Egypt’s 6th of October City to the Giza plateau
- The deal was announced during a forum held in Cairo and attended by Egyptian PM Mostafa Madbouly and his Japanese counterpart Fumio Kishida
Egypt signed its largest investment package with Japan on Sunday directed at supporting the North African country’s transport development plan, according to a statement released by Egypt’s Cabinet.
The package, valued at 100 billion yen (US$734 million), will contribute to financing Cairo’s metro expansion, a 30-km stretch of land that would link Egypt’s 6th of October City to the Giza plateau.
Aside from Japan’s contribution to expanding Cairo’s metro service, total Japanese investments in Egypt have so far amounted to US$3 billion in more than 18 projects under Egypt’s sustainable development goals, the Cabinet statement added.
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The latest deal was announced during a business forum between both countries held in Cairo and attended by several Japanese and Egyptian ministers including Egyptian Prime Minister Mostafa Madbouly and his Japanese counterpart Fumio Kishida.
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