Banque Du Caire Grants NAT EGP1.6 bln to Modernize Subway’s Line I

Banque Du Caire granted new fund in favor of the National Authority for Tunnels (NAT) in order to modernize line 1 of subway’s fleet trains with EGP1.6 billion which is the highest density of subway lines in the world, drawn to raise the efficiency of the service of line 1 trains, which serves two million passengers daily.

Mr. Mounir El-Zahed, Chairman of the Bank’s Board of Directors said the transporting projects ranked on the top of the projects in which the bank is seeking to fund as it is considered to be one of the most national projects that serve many citizens and push the economic wheels.

El-Zahed added that the bank has previously financed importing and supplying of phase II of subway’s line 3 Misr el-Gedida- Abasaya in November2010 worth EGP590 million.

 The new Korean-made trains are imported within 45 months, the company will take charge of the company’s maintenance works for 8 years and that ensures continuing the works of the trains with its fully capacity to provide more best service for the passengers.