On Monday, South Korea and Egypt signed an agreement on the implementation of a project for the production and supply of Cairo subway cars.
In particular, the South Korean Embassy in Egypt announced today, Tuesday, that its Ambassador to Cairo Kim Yong-hyun yesterday, Monday, signed an agreement with Egyptian Minister of International Cooperation Rania Al-Mashat on the implementation of a project for the production and supply of Cairo subway cars through the Korean Fund for Cooperation for Economic Development.
Kim expressed his hope that the project will improve the quality of life of Egyptian citizens and pave the way for more development cooperation projects to open between the two countries in the future.
It was noted that the South Korean government will provide a loan of 460 million US dollars (about 590 billion won) for the project for the production and supply of Cairo metro trains as part of the agreement.
It is worth noting that last year the South Korean government decided to provide a loan for a project for the production and supply of 320 cars for the second and third lines of the Greater Cairo Metro, in which Korean companies participate.
Source: “Yonhap”