Railway investments in Egypt to hit EGP90 billion until 2030
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)