Egypt has secured a $400 million loan agreement with the World Bank to facilitate a logistics project aimed at enhancing trade between Cairo and Alexandria. Under the agreement's terms, this sum can be converted into different currencies as needed to support the project's financing. The Ministry of Transport will oversee the project, with the Egyptian Railway Authority representing Egypt before the World Bank. The initiative's objectives encompass improving logistics and transportation services, reducing carbon emissions along the Alexandria, on the 6th of October, Greater Cairo railway line, refurbishing the railway sector, involving the private sector, implementing railway sector reforms, and establishing a transparent fee collection plan for Egyptian railway infrastructure usage.
Additionally, the project includes expanding railroads, modernizing signal systems, creating a railway branch around Greater Cairo, and establishing a new link from the Beshayl line to Itay El Barud to the Marazeek - Al Wahat line, all funded by the loan. Updates to the Marazeek - Al Wahat line, involving modernization of tracks and signal systems over a 70-kilometer distance on the Al Wahat line, are also part of the project.