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Egypt’s railways revenues hit LE 1.59B in 1st 9 months of 2018

Mon, Oct. 29, 2018
CAIRO – 29 October 2018: Revenues of the Egyptian Railways Authority increased during the first nine months of 2018, recording LE 1.59 billion, compared to LE 1.50 billion in the same months of 2017, according to data from the state-owned statistics agency CAPMAS.

According to the data, revenues of July and August 2018 recorded the highest from the beginning of the year to the end of September, scoring LE 206.7 million in each of July and August.

The Central Agency for Public Mobilization and Statistics added that February recorded the lowest revenues of the nine months with LE 154.9 million.

The official statistics showed that the revenues achieved during the period from January to September 2018 "month by month", came as follows:

In January, revenues amounted to LE 190.7 million, and decreased in February to LE 154.9 million, hiking to LE 175.3 million in March.

About LE 168.6 million were generated in April as revenues, according to data, and they hit LE 167.9 million in May. In June, revenues amounted to LE 175.9 million.

September revenues marked an amount of LE 190 million after scoring LE 206.7 million in each of July and August.

By the end of fiscal year 2016/2017, Egyptian Railways Authority recorded an actual loss of LE 6.3 billion, compared to LE 4.3 billion estimated for the same year.

President Abdel Fatah al-Sisi said in March that Egypt’s rail lines require funds ranging from LE 200-250 billion to upgrade them.

Minister of Transport Hesham Arafat also said that railway networks’ infrastructure has aged, especially its signaling systems and track, and that they require upgrading.

Arafat said that the ministry is exerting efforts to improve the basic rail infrastructure by constructing, investing and operating rail lines, but this needs a huge amount of money.

The Egyptian Railways Authority’s budget in fiscal year 2017/18 stood at LE 3 billion.
 
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