Funding established for Egyptian highway
First publishedon www.WorldHighways.com
Highway construction work is underway in Egypt with key links such as the Cairo-Alexandria route being upgraded
Funding is being established for the Shoubra-Banha highway project planned for Egypt. The National Bank of Egypt is bringing together a consortium of lenders that will provide the syndicated loan required. The Shoubra-Banha highway project is planned by the Egyptian Transportation Ministry. A memorandum of understanding (MoU) has been signed between the General Authority for Roads, Bridges and Land Transport and the National Bank of Egypt. Construction of the 40km stretch of highway, which will carry 125,000 vehicles/day, is expected to take 18 months to complete. The road will be located in Egypt’s El-Kalubia governorate and the work is expected to cost some US$331 million. The Egyptian Transportation Ministry is at present establishing plans for the country’s Mediterranean Coastal Highway between Marsa Matrouh and Port Said, the final portions of the Cairo-Alexandria highway upgrade and the Kafr El Zayat-Alexandria highway project.