Egypt Transportation Minister: $500 mln mega ports, containers projects are underway

Ministry of transportation is nearing complete execution of a number of major ports and containers projects with a cost of $500 million, said minister Galal Al-Saeed on Tuesday.

In coordination with a number of banks and investors, these projects are underway in Damietta, Safaga, and the New Economic Zone in Nuweiba.

Speaking at the Egypt Mega Projects Conference, Al-Saeed added that his ministry would start receiving offers from construction companies to take over Cairo- 10th of Ramadan Railway Project.

Tackling the government’s national road development scheme, the minister said it will be completed within one year. The scheme includes the construction of 39 new roadways with a total length of 7000 km.

The minister has also completed 300 km of the regional railway project, representing 75 percent of the total length, at an initial cost of 10 billion pounds, Al-Saeed added.

The minister also hinted that five mega railway projects are underway, financed by the World Bank, Kuwait Fund for Arab Economic Development (KFAED), and the Arab Fund for Economic and Social Development (AFESD).