Egypt aims to finish Metro fourth stage with Egyptian funds: Sisi

CAIRO – 23 December 2017: Egypt’s President Abdel Fattah al-Sisi said that he is aiming to establish the fourth stage of the Metro project using only Egyptian resources, as soon as possible.

Sisi said on Saturday while inaugurating the tunnel of Ismailia, which is situated on the west bank of the Suez Canal, that his goal is to complete the 14-kilometer project using only Egyptian hands, equipment and companies.

He pointed out that previously we used to fund such major projects from international institutions, but, in this case, the government will provide the funding, depending on bank loans.

The project will cost LE 30 billion, adding to the equipment cost of LE 13 billion, meaning the price of the metro tickets has to be increased at least three times the current price, the president added.

Sisi told the Assistant of the Head of the Egyptian Armed Forces Engineering Authority, General Ahmed Fouda, that he will be responsible of monitoring this project and deciding whether they are ready to start working on it.

The president then thanked the Egyptian armed forces for executing the tunnels of Ismailia project according to the deadline.