In media statements via telephone to Sada El-Balad TV channel’s news talk show “My responsibility” on Tuesday, El-Wazir stated that some companies and businessmen donated to construct the monorail stations, which cost 6 million Euros each in return for naming stations after their projects.
El-Wazir revealed that “One ninety” compound that is being constructed in the New Cairo district paid to have the monorail station being constructed in front of it named after the compound’s name.
He also added that businessman Ahmed El-Sewedy, the President and CEO of El-Sewedy Electric company, donated to construct two stations, one to be named after his company and the other after a university he owns.
Businessman and billionaire Yassin Mansour, the co-owner of Mansour Group and chairman of Palm Hills Developments also donated to construct two stations, one to be named after a compound and a mall following Palm Hills Developments too in 6 October city.
The Egyptian Minister of Transportation said that the businessmen and compounds will pay in Euros, but educational institutions like universities can pay in Egyptian pounds. Kamel El-Wazir revealed that Al-Ahram Press institution’s Canadian University had booked a station to be named after the university.
“The Monorail and LRT cost a lot and we can’t depend on the tickets to return its costs and thus we will use their stations as investments,” he said adding that there will be advertisement spaces to be sold in the LRT and Monorail as well as on their tickets.
In addition, shops, restaurants, and food courts in the stations will be available for lease.
Kamel revealed that Adly Mansour LRT Interchange Station, which will connect the New Administrative Capital (NAC), leased its parking space for EGP 42 million annually.
The first phase of the Adly Mansour LRT Interchange station, which is the largest in the Middle East was inaugurated in July 2022.
The LRT will link Cairo, Obour, El-Mostakbal (Future), El-Shorouk, New Heliopolis, Badr, the Industrial Zone, and 10th of Ramadan cities with the New Administrative Capital and will run over a route of more than 100 kilometres.
Egypt’s first monorail is set to operate by 2023 with two lines extending 100 km linking West and East Cairo and making its network the longest in the world.