Egypt plans $665m China deals for Cairo light rail

Egypt is preparing to sign two agreements worth a combined $665 million with Chinese companies to advance the country’s Light Rail Transit (LRT) project, according to a report by Asharq Business.

The agreements are expected to be signed during Chinese President Xi Jinping’s visit to Egypt, which began on September 1.

The first agreement, valued at up to $515m, covers implementation of the fourth phase of the LRT project. It is expected to be delivered by a consortium comprising Chinese companies AVIC Intel and MBEC, according to sources cited by Asharq Business.