EGP5.9bn Allocated to Upgrade Egypt’s Railway – Planning Ministry

The Egyptian Planning Ministry announced for the allocation of EGP5.9 billion from the state’s budget in order to develop the railway, as the Egyptian Railway Authority (ERA) has captured around 42.9% from the directed investments value of transport sector which estimated at EGP13 billion and EGP800 million.

The Ministry explained in statements on Tuesday that the directed investments of ERA which totalling EGP5.9 billion including EGP2.5 billion foreign loans and grants and EGP1.4 billion loan from National Investment Bank (NIB) and the total value of loans reached EGP3.9billion and EGP2 billion from the total value of state treasury.