Railway investments in Egypt to hit EGP90 billion until 2030

October 19, 2015 1:08 pm


The chairman of Egypt’s National Railway Authority Ahmed Hamid, revealed the authority’s long-term investment plan, valued at EGP90 billion, from the current fiscal year up to 2030.

Hamid explains that the general investment plan of the authority is represented in three axes: the most important one is the urgent plan, with an estimated value of EGP7.17bn, followed by the medium plan estimated at roughly EGP14.413bn and other long-term plans for the fiscal year 2016 to 2030, with a total EGP90bn.

Thus, these plans will be distributed among the various projects: the fixed platforms on the lines and mobile units; the renovation and development of the authority’s workshops; and raising the efficiency of safety, UAE-based Aliqtisadi says.

Hamid adds that among the urgent projects which are public and expire at the end of 2015, come the operating of the “VIP trains” – three trains have already been launched in Lower and Upper Egypt – and the development of terminals, bridges and level crossings.

(EGP1 = AED0.46, at the time of publishing)

Tags:

AMEinfo Staff
By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.



AMEinfo EXPERTS