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Saturday, April 20, 2024
Today's News

Egypt signs transport investment deal with Japan valued at about $700mln

Egypt signs transport investment deal with Japan valued at about $700mln

The plan, valued at $734mln, will contribute to financing Cairo’s metro expansion, a 30km stretch of land that would certainly link Egypt’s 6th of October City to the Giza plateau.

CAIRO – Egypt authorized its largest financial investment bundle with Japan on Sunday routed at supporting the North African nation’s transportation growth strategy, according to a statement released by Egypt’s Cupboard.

The bundle, valued at 100 billion yen ($ 734 million), will certainly contribute to funding Cairo’s metro expansion, a 30km stretch of land that would certainly connect Egypt’s sixth of October City to the Giza plateau.

Other than Japan’s payment to broadening Cairo’s metro service, complete Japanese financial investments in Egypt have so far amounted to $3 billion in more than 18 jobs under Egypt’s lasting growth objectives, the Closet statement included.

The most up to date deal was introduced throughout a company forum in between both nations held in Cairo and also participated in by several Japanese and Egyptian priests including Egyptian Head of state Mostafa Madbouly as well as his Japanese equivalent Fumio Kishida.

Kishida showed up in Egypt on Saturday at the start of a four-country African excursion concentrating on profession connections between Japan, Egypt, Ghana, Kenya as well as Mozambique.

Kishida met first with Head of state Abdel Fattah Al Sisi to review ways to boost Egypt’s investment climate as well as spur more financial investment there from Japan.

Last Updated: 01 May 2023

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