Egyptian cabinet revealed that Ministry of Finance, New Urban Communities Authority, National Investment Bank, National Authority for Tunnels, and Administrative Capital for Urban Development Company will establish together a joint-stock company to build, manage, operate, and maintain the new monorails in the New Administrative Capital and 6th of October city.

The company will be established under the name “United Company for Establishment, Management, Operation, and Maintenance of Metro Lines and Rail Transport” in accordance with the provisions of the Law on Joint-Stock Companies, Partnerships Limited by Shares, and Limited Liability Companies, and Investment Law.