According to local Korean news, Egypt is set to receive 48 subway cars by 2o21 from South Korean railway system Hyundai Rotem Co worth $US 135 million.
The order, which was based on a competing bid, will be custom made as Hyundai Rotem Co will be building the subway cars for Egypt’s National Authority for Tunnels.
The cars, which will be air-conditionned, will travel at the speed of 80 kilometers per hour and will service Cairo’s metro line 2.
The order will also guarantee a maintenance and repair service until 2031.
Hyundai Rotem is an affiliate of Hyundai Motor Group. The 41-year-old company produces defense and plant equipment; it has already supplied Cairo metro Line 1 with 180 subway cars.
After various months of speculated talk of ticket increases, metro ticket prices increased in May 2018 to be based on the length of each commute and ticket stops.
The increase was justified due to funding the implementation of development plan for Cairo’s underground metro, a popular and widely-used mean of transportation. With new stations set to be opened in the areas of Zamalek, Downtown and Heliopolis as well the upgrading of older metro carts, the hikes aim to cover these costs.
The increase in price is also meant to compensate the accumulated losses worth EGP 618.6 million as well as an outstanding deficit of 94 percent in the maintenance and renovation budgets of 2016/17 and 2017/18.
Egypt’s metro system is one of the oldest in the Middle East and Africa. It stands as one of Egypt’s most used and affordable means of public transportation as official taxi fares start at EGP 5 while Uber and Careem are considered pricier options.