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Alexandria will have a metro link with the support of EU Bank to improve its transport network and to reduce the carbon emission
The European Bank for Reconstruction and Development (EBRD)announced that it would extend a €250 million loan to finance the upgrade of an existing rail line between downtown Alexandria and Abou Qir, the north-eastern town of Egypt. The EBRD was assured to upgrade the infrastructure and electrification of an existing rail line to make it the first high-capacity metro line in Alexandria. The project is a p[art of the EBRD Green Cities program.
The improvements will cover the requisite rail systems, including signaling, telecommunications and centralized controls, as well as the rolling stock for the new line. The investment will support Egypt’s transition to an energy-efficient, low-carbon economy, decrease CO2 emissions and reduce congestion. The upgraded line will also improve public services, significantly increasing capacity and the level of service needed to cater for future demand, the bank pointed out.
The EBRD’s funds are part of a €1.76 billion package co-financed by the European Investment Bank, Agence Française de Développement and Asian Infrastructure Investment Bank. The National Authority for Tunnels (NAT), a state-owned executive agency under the jurisdiction of the Ministry of Transportation, will implement the renovation work using the corridor of an existing railway line currently operated by Egyptian National Railways (ENR). The new metro line will be managed by a private operator to ensure a high standard of service.
