Transport ministry announces new $12bn-projects in FY 2015-16

Egyptian ministry of transport targets announcing a bunch of new projects estimated at 100 billion Egyptian pounds (US$12.4billion) during fiscal year 2015-16, Minister Saad el Gioushi stated Monday.

All details about the new projects will be announced during a press conference set to be held tomorrow, the minister told Amwal Al Ghad.

He added that the new investments include executing the recent agreements with China that have been signed during the visit of the Egyptian President Abdel Fattah al-Sisi to China.

The projects which are set to be implemented by Egypt in cooperation with China include establishing railway line between Cairo-10th of Ramadan City-Bilbeis in Al Sharqia Governorate in addition to a project to upgrade the efficiency of the Egyptian railway lines.

The minister clarified that the projects also include the mechanisms of completing the new lines of underground metro besides the strategy of improving the services and maintenance of current metro lines.

El Gioushi emphasised that the ministry will provide a study about the possibility of increasing the cost of metro tickets as soon as finishing upgrading the provided services.