By: Mostafa Adel
Cairo – Mubasher: Recent investment costs of railway development projects and supplying new train carriages and wagons reached around $1 billion, said Egyptian minister of transport Galal El-Saeed on Tuesday.
Speaking at the National Projects Conference, the minister noted that the railway development scheme requires supplying nearly 1000 train carriages in the upcoming period.
The ministry is currently studying a number of offers from European companies to manufacture and supply these carriages, he added.
Projects will not be affected by the recent dollar liquidity squeeze, which Egypt has suffered from in the past period, the minister told news reporters at the conference.
As for the listing of public companies affiliated to the ministry on the Egyptian Exchange (EGX), the minister told Mubasher that such plans were possible but no discussions have taken place yet.
The ministry is currently implementing 5 massive projects for railway signaling systems, funded by several resources including the World Bank and the Arab Fund for Financing, and the Kuwaiti Fund, El-Saeed added.
Translated by: Mahmoud El-Zahwey
