Egypt intends to spend nearly 70 billion Egyptian pounds ($2.3 billion) on the construction of new rail lines and expansion of existing networks as part of plans to develop domestic transport and logistics sector, the country’s Transport Minister has said.
Over the past 10 years, the most populous Arab country has pumped nearly 225 billion pounds ($7.4 billion) into the rail industry out of the total transport investments of around two trillion pounds ($65 billion), Kamil Al-Wazir said.
He told the Egyptian Arabic language daily Addustour on Monday that besides the high-speed electric train, new projects include construction of rail lines and expansion of existing lines linking logistic areas with ports and highways.
“There are plans to spend 70 billion pounds on new rail projects as part of a programme to develop the country’s rail networks,” he said.
The Minister said these projects include construction and expansion of networks between the capital Cairo and the Northern Mediterranean port of Alexandria and rail linking the Northeastern Port Said and the North Sinai town of Arish, adding they also comprises building 708 train stations and 60 signal towers.
(1 US dollar = 30.94 Egyptian pounds)
(Writing by Nadim Kawach; Editing by Anoop Menon)
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