Transport Ministry offers 6 projects in Egypt Economic Summit at $2.5 bln

The Ministry of Transportation aims to propose six projects at the Economic Summit, with investments of $2.5bn, according to Minister of Transport Hany Dahi.

Dahi added that the ministry is targeting the development of transportation infrastructure in Egypt over the next 10 years.

Sharm El-Sheikh will host the summit on 13-15 March, with a strong presence expected from the largest international investment companies.

The ministry prepared six projects to be proposed in the summit schedule as top priorities, according to Consultant to the Minister of Transportation for Project Planning Ahmed Moussa.

Moussa noted that the six projects will be proposed according to the BOT system, or in cooperation with the private sector. The projects include: a container station in East Port Said worth $700m in investments; and a goods road, the first of its kind, which will link Ain Sokhna to Helwan, worth $500m.

The projects also include a proposal for a logistics port in both the 10th of Ramadan City and 6th of October City, with costs of $200m.

According to Moussa, the ministry will also propose a bus highway linking New Cairo, Heliopolis and Nasr City, with investments at approximately $400m.

The ministry intends to propose an electric train project that links Ramsis, Downtown Cairo, to the east of the capital, with costs of $500m.

Transport development comes within the Ministry of Transportation’s priorities regarding developing the system, according to Moussa. He added that the ministry will propose a river bus project with costs of $100m.

“Cooperation with investment banks regarding studying and marketing these projects already took place, and specifications required by the Ministry of Investment are done,” said Moussa.

Source: Daily News Egypt