Minister: Egypt completes 22.5bn pounds bridge, road flagships in 3yrs

Egypt spent 22.5 billion Egyptian pounds on roads and bridges that were competed between 2014 and 2017, Transport Minister Hisham Arafat announced Monday, according to a statement from the ministry.

These investments include 10 new roads worth 12.8 billion pounds as part of the county’s National Roads Project as well as the further development of 2000 km of existent roads at a cost of 5.7 billion pounds, the statement read.

These projects come in addition to the construction of four interchange hubs over the Nile at a cost of 1.9 billion pounds.

2.1 billion pounds were also spent on the building of a number of bridges, including along the Desert Road and the Cairo-Suez Road.

Meanwhile, Egypt is currently spending 32.9 billion pounds on further transportation infrastructure projects, including 16 billion pounds on eight roads under the National Roads Project (NRP), Arafat said.

Ongoing projects also include 2500 kilometers of existent roads network currently being upgraded at a cost of 7 billion pounds, eight interchange hubs that are being built on the Nile at an 8.5 billion pounds cost, and 10 bridges that are being built worth 1.4 billion pounds.

The Transport Ministry is now working on the third phase of the NRP, having lain a total of 896 km during the project, the minister said.

Egypt has been prioritizing transport infrastructure investments since President Abdel Fattah al-Sisi announced the NRP in August 2014 in a plan build 4,400 km of new roads.

Transport and logistics activity represented 3.1 percent of GDP in the financial year 2014/2015, according to the General Authority for Investment and Free Zones. Source: Ahram online