Japan International Cooperation Agency
Phase 1 bidding has been postponed until May 2015 to enable Japan International Cooperation Agency (JICA) to complete the feasibility study and to resolve other problems with the construction starts by 2015 or 2016 according to Ismail El-Nagdy, Chairman of National Authority for Tunnels with Japan International Cooperation Agency financing $1.2 billion loan while Egyptian government covering the rest of $2.4 billion.