Railway authority revenues posted 16% increase in June

CAIRO – 27 July 2017: The Egyptian National Railway Authority achieved LE 149.6 million in revenues last month, 16 percent up from LE 128.8 million ($7.1 million) recorded in June 2016, Egypt’s statistics body said Thursday.

This is the second consecutive hike in revenues in 2017, after the authority registered LE 162.2 million in May, up from LE 148.8 million in revenues of the same month in 2016.

Passengers of trains were also increased to 20.1 million passengers, compared to 18.8 million passengers in June 2016, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

With regards to transported goods, the authority carried 394,200 tons in June, up from 370,700 in the corresponding period last year.

Last month, the Egyptian National Railways signed an agreement to purchase 100 train engines worth $575 million from General Electric (GE). This project will be funded by the European Bank for Reconstruction and Development (EBRD).

The Egyptian Railways Authority budget in the fiscal year 2017/18 is LE 3 billion. Minister of Transportation Hesham Arafat said in a June statement that it should have been LE 9 billion in order to continue its developmental projects.

The ministry had renovated 178,584 km of railroads during fiscal year 2016/17. Of those, 70 km were renovated between January and June 15, 2017.