EGYPT: The Ministry of Transportation has signed a memorandum of understanding with China Railway Construction Corp for the construction of Cairo metro Line 6.

Construction of the 24 km line is expected to cost US$3·5bn, with the financing still to be negotiated.

Meanwhile, the European Investment Bank has signed a €200m loan agreement with the Egyptian government. This is the second tranche of a €600m loan that will be used towards construction of the third phase of Cairo metro Line 3.