Egypt’s govt to contract local and foreign private sector for railway projects
Source:Egypt Independent
From:Taiwan Trade Center, Cairo
Update Time:2019/03/26
Deputy Transport Minister Amr Shaath said Tuesday that the ministry is moving to make joint investments with the Egyptian and foreign private sector regarding projects on railways, metro, and land ports.
He added that Transport Minister Hisham Arafat stressed the necessity of private sector participation and investment inflow, especially after the government successfully improved the infrastructure in facilities such as railways.
Shaath explained that there are large investment fields and opportunities in railway projects, after the amendment of the railway authority’s law allowing the participation of the private sector in the implementation of new lines and the operation of new services in the passenger and cargo sector.
He pointed out that Egypt is attractive to investment in transport projects, especially with increasing rates of development and expansion of national projects throughout the country.
In a statement to Al-Masry Al-Youm, Shaath said that the ministry held a workshop with the World Bank to study the private sector’s participation in transport projects.
Shaath pointed to the successful implementation of the country’s largest project to improve railway efficiency and infrastructure at a cost of LE 12.5 billion. The results of the project will be presented next year, along with the purchase of 1,300 coaches at a cost of LE21 billion alongside 100 locomotives.
According to Shaath, the government has already completed the largest and most difficult part of investment which is investing in infrastructure such as with a new project to electrify train signals in accordance with international standards, allowing the speed of trains to 140 kilometers per hour.
They also increased the number of trips, follow-ups, secured the process and renewed tracks.
The deputy minister pointed out that cooperation is being made with international finance banks for renovations on the first line of the metro and railway projects.
Source:https://ww.egyptindependent.com/