The French Development Agency (FDA) eyes providing a EUR 100 mn grant to finance the upgrade of Alexandria’s 150-year-old El Raml Tramway, which is set to be completely revamped in early 2022, Invest-Gate reports.

The announcement came in a meeting headed by Minister of Investment and International Cooperation Sahar Nasr, alongside Transport Minister Kamel El Wazir, in the presence of French Ambassador to Cairo Stéphane Romatet, according to a ministerial statement on July 23.

On the sidelines of the meeting, Romatet praised the Ministry of Transportation’s eagerness to deliver the payments of French companies working on Egyptian projects, revealing that CEO of Vinci SA – a French concessions and construction company – will soon visit Egypt.

Meanwhile, El Wazir highlighted the eagerness of the Ministry of Investment and International Cooperation to attract more investments into the transportation sector, while securing the necessary grants for its various projects.

Within a consortium, French companies are currently constructing the fourth phase of Greater Cairo Metro Line III, the parallel line running from Marg to Helwan, south of Cairo. Additionally, the Egyptian Railway Authority (ERA) and French National Railway Company are jointly developing a safety system in the rail line, stretching from Giza to Beni Suef.