Cairo – Mubasher: The construction work of the electric train, which will connect Salaam city and 10th of Ramadan city with the new administrative capital, will commence next July, head of Egyptian National Authority for Tunnels (NAT) Tarek Gamal El-Din said.
The project will be implemented at a total cost of up to $1.2 billion, which will be financed through a syndicated loan agreement from the Export-Import Bank of China (EXIM), local newspaper Youm7 reported, citing Gamal El-Din.
The loan will be paid off to the Chinese lender over 20 years with a five-year grace period and a 1.8%-interest, he added.
