Egypt to lay foundation stone for $1.2bn high-speed electrified train in April 2020

Egypt will lay the foundation stone for the construction of a $1.2 billion high-speed electrified train link project within April 2020, according to a Ministry of Transport statement said.

It will coincide with the completion of the first and second parts of stations in the fourth phase of Cairo Metro’s third line, the ministry added in a statement on Thursday.

Egypt seeks to build a 68 km (42 mile) high-speed electrified train of 11 stations from Cairo to the under-construction new administrative capital. The project is being financed by the Export-Import Bank of China (EximBank) through a soft loan worth $1.2 billion.

The new capital, announced in March 2015, is intended partly to reduce crowding in Cairo but will also be home to government ministries and an airport.