Egypt to Present $1.5bn Cairo-6 October Train Plans at Economic Summit
The government has decided to present the construction plan for a train linking 6th of October City to Cairo at the economic summit scheduled for February in Sharm El-Sheikh, according to cabinet spokesperson Hossam El-Qaweesh.
Egypt is preparing for an economic summit, called for by the King of Saudi Arabia Abdullah bin Abdul Aziz after President Abdel Fattah Al-Sisi took office. The aim of the summit is to reassure investors and attract investments by presenting a package of new projects.
El-Qaweesh said that “a global company presented a comprehensive offer to the Egyptian government to implement the projects,” but refused to give its name. He said that the company has similar projects in Saudi Arabia, UAE, and other countries including Brazil.
“The company estimated the cost of the project to be approximately $1.5bn,” and the train project will be a monorail line, El-Qaweesh added.
The government is seeking to present several mega-projects to local and international investors during the economic summit, including the Suez Canal Axis Development, the Golden Triangle, and Northwest Sahel projects, in addition to transportation and energy projects that the state is currently planning.
According to a cabinet press release, Prime Minister Ibrahim Mahlab held a meeting with the ministers of housing and transport, and Cabinet Advisor on Transportation and Tunnels Hany Azer, as well as a number of representatives of international and Egyptian companies in order to study the project.
Officials from the global company said that the train represents a modern solution for solving crowding issues within cities, stressing that consumers will be satisfied with the project due to its environmental-friendliness, reduced noise emissions, and conformance with architectural surroundings. In addition, the project is easy to construct and includes top amenities, as well techniques to use energy efficiently. The officials explained that the project will operate completely automatically.
Company officials expect the train line to reach a maximum speed of 80km / hour and extend 26km between 6th of October City to Imbaba station. The line will have the capacity to transport 1 million passengers per day, with an average train arrival every minute and a half.
Mahlab called on relevant ministers to study different financing models for the project so as to ensure it is constructed in accordance with international standards at the lowest possible cost after thanking the company for its offer.
Source: Daily News Egypt
