Egypt and Japan sign transport investment deal worth $730m

May 02 (arabnews.com) - Egypt signed its largest ever investment package with Japan on Sunday aimed at supporting its transport development plan.

The agreement, worth 100 billion yen ($734 million), will be used to finance 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 signed during a business forum in the presence of Egyptian Prime Minister Mostafa Madbouly and his Japanese counterpart Fumio Kishida.

In addition to Tokyo’s contribution to expanding Cairo’s metro service, the total Japanese investments in the North African country have so far amounted to $3 billion in more than 18 projects under Egypt’s sustainable development goals, a statement issued by the Egyptian Cabinet said.

Kishida arrived in Egypt on Saturday at the start of a four-country African tour focusing on trade relations between his country and Egypt, Ghana, Kenya, and Mozambique. ...continue reading

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