04:33 PM
Monday, January 23, 2023
Books – Nashat Ali:
Representative Waheed Qarqar, Undersecretary of the Parliament’s Transport and Communications Committee, called for the need to increase the local component in the national industry. With the aim of supporting that industrial sector, and creating national partnerships, which helps increase the country’s national income.
This came during Qarqar’s speech at the meeting of the Transportation and Communications Committee in the House of Representatives, today, Monday, to discuss, discuss and study the President of the Arab Republic of Egypt’s Resolution No. 637 of 2022, regarding the approval of the commercial loan agreement submitted by the Korean Export-Import Bank and Credit Agricole Bank – Korea; To complete the financing of the project to supply 32 trains for the third and fourth phases of the third line of the Cairo Metro.
The deputy stressed the importance of the agreement presented to the committee, as it relates to one of the most important public utilities in the transport and communication sector in Egypt, which is highly sought after by citizens. It is a civilized means of transportation.
Deputy Waheed Qarqar, the committee’s deputy, called for a clear plan regarding the completion of the third phase of the subway, Kit Kat-Raud Al-Farag-Cairo University.
According to the explanatory note to the agreement, pursuant to the commercial loan agreement provided by the Export-Import Bank of Korea and Credit Agricole Korea Bank, with a total value of 64,180,900 euros; To complete the financing of the project for the supply of (32) trains of mobile units for the third and fourth phases of the third line of the Greater Cairo Tunnel Project (Imbaba / Cairo University / Cairo Airport) through four main stages.
The explanatory memorandum stated that the supply of mobile units is considered an essential and major part of the project components. As it was previously contracted with the Korean company “Hyundai Rotem” under Contract No. 89/Metro for the supply of (32) trains of moving units for the third and fourth stages of the third line of the Greater Cairo Metro, with a total value of 317,770 million euros + 640 million pounds, which included the supply of spare parts Spare parts and 8 years of maintenance after the guarantee period of two years, funded by the public treasury, external loans, soft loan + commercial loan.
The commercial loan in the amount of 180,900,64 euros is divided into a direct loan from the Export-Import Bank of Korea in the amount of 360006668 euros at a rate of 60%, and 2 secured loans in the amount of 28,174232 euros from Credit Bank Kole-Korea at a rate of 40% first in relation to the direct loan from Korea Export-Import Bank.
The explanatory memorandum indicated that the Korean Export-Import Bank is considered one of the international financing bodies that are excluded from the arbitration clause within the Arab Republic of Egypt, according to Presidency Letter No. related loans and grants.
