Railway Authority’s debts in Egypt at EGP 250 billion- spokesperson
The total debts of Egypt’s Railway Authority reached around 250 billion Egyptian pounds ($15.9 billion), according to a statement by presidency spokesperson Bassam Rady on Saturday.
Egyptian President Abdel Fattah al-Sisi discussed with Prime Minister Moustafa Madbouly and Transport Minister Kamel El-Wazir the executive position of the projects, the development, and modernisation of the railway network as well as the possible solutions to settle authority’s debts, Ahram Online reported.
The transport minister reviewed during the meeting the debt of the Railway Authority in detail, which owes the Central Bank about 100 billion pounds, in addition to 150 billion pounds in loans from the state budget for the projects currently implemented by the ministry, Rady added.
Sisi ordered the swift completion of the railway network development plan, and the construction of new lines to connect the various parts of the country, especially linking ports to the existing railway network after its development and the supply of tractors and modern carriages from international companies.
Egypt’s railway network is among the world’s oldest, with 9,570 km of tracks running across the country. It transports 500 million passengers annually, an average of 1.4 million passengers each day, according to Egyptian National Railways (ENR).
Nevertheless, according to experts, the railway network, which has 85 percent of its signalling system at crossings still using manual signalling rather than automation, needs to be radically upgraded.
The meeting also discussed the executive and contractual status regarding the development of the railways, including tractors and new coaches, and the renewal and maintenance of railways, he said.
Kamel El-Wazir also said the developments in the construction of new road networks and bridges in various governorates, especially in Upper Egyptian governorates, which are seeing the establishment of a number of major axes on the River Nile, Rady noted.
Among these projects is raising the efficiency of the ring road surrounding Greater Cairo, as well as developing the Cairo-Assiut-Aswan road and the Cairo-Alexandria agricultural road, the statement said.
The meeting also touched on the efforts of comprehensive development of Alexandria port, increasing the area of its quays, developing services and the customs department at the port, and establishing a multi-storey garage for imported cars.
They also tackled the development works of El-Dekheila port, in addition to linking the two ports with three main axes on the international coastal road.
The minister of transport also presented the latest developments in the implementation of the electric train that will connect the New Administrative Capital with Cairo’s neighbourhoods.
Last year, Madbouly witnessed the signing of an executive agreement with the Chinese bank Exim to provide a $1.2 billion soft loan for the implementation of Egypt’s first electric train that connects the cities of Greater Cairo, Obour, Shorouk, Mostaqbal, and Robiki with the New Administrative Capital.
The electric train, which will be constructed by Chinese firms under the supervision of the Ministry of Transportation, will be connected with the third line of the Cairo underground network in Salam City’s Adli Mansour Metro station.
