Egypt's targeted investments in transport sector hit LE245B during 2021/2022

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Sun, 25 Apr 2021 - 03:21 GMT

Minister of Planning Hala El-Said - File Photo

Minister of Planning Hala El-Said - File Photo

CAIRO – 25 April 2021: Total investments in transport sector are estimated at LE 245 billion in 2021/2022, according to Minister of Planning Hala el-Said.

 

El-Said explained that this investment boom reflects the ambitious plan adopted by the state to strengthen the infrastructure and develop the performance of transport activities, with priority given when directing sector investments to projects close to Completion and national projects that have an economic impact on the business climate, and projects with a social dimension that directly affect the lives of citizens.

 

This came during the Minister’s review of the objectives of the transport sector in 2021-2022, the draft sustainable development plan for the fiscal year 2021-2022, the fourth year of the medium-term plan 2018-2019-2021-2022), on Sunday before the House of Representatives headed by Hanafy Gabali, Speaker of the Council and board members.

 

The minister emphasized that the investments directed to the activities of roads, bridges and road transport contributed to the rise of Egypt in the world ranking of road quality by 85 centers, jumping from 113th to 28th.

 

The Minister of Planning indicated that about LE 23 billion were allocated to the projects of the Ministry of Transport, with a growth rate of 30 percent, to complete the strategic road projects, including the development of the ring road with a length of 106 km, and the initiative to provide financial allocations for the completion of the implementation of national roads with credits amounting to LE 1.1 billion for the completion of three roads with length of 350 km, and the initiative to expand cross-axes on the Nile with LE 3.1 billion is directed to complete and establish 10 transverse axes, and LE 1.5 billion to direct the initiative to construct alternative concrete bridges for ferries on waterways to build 15 bridges on the Beheiri winds.

 

She explained that the plan includes allocations of about 2.9 billion pounds to complete 3 strategic road projects implemented by the Central Agency for Reconstruction with lengths of 324 km, namely the King Salman Corridor Project, the Firdous Highway, and the duplication of Matrouh / Siwa Road.

 

The minister stated that in the field of river transport, the plan includes projects to develop river units along the shipping course (Cairo / Aswan) and raise the efficiency of the river port of Halfa in Sudan.

 

El-Said said that among the targeted investments for economic agencies, amounting to about LE 146 billion in the 2021/2022 plan, the National Tunnels Authority alone has about LE 113 billion directed to implement the two fast electric train projects, one of which links Ain Sokhna with the new administrative capital and the new city of El Alamein, and the second connects The tenth of Ramadan in the Administrative Capital, next to the Monorail lines in the New Administrative Capital and 6th of October City, the completion of the implementation of the third metro line, the first phase of the fourth line, and the development of the Abu Qir / Alexandria train.

 

She indicated that, in the field of railways, the National Authority for Egyptian Railways allocated about LE 27 billion, including works targeted for 2021-2022, such as developing construction works for 1,100 slides, establishing fences between stations, and other works intended to be completed, such as The new Qanater Charity Bridge with a length of 490 meters, the development of signaling systems, and in the field of dry ports, it is intended to complete the construction works of a dry port in the tenth of Ramadan, similar to its counterpart on the sixth of October, in addition to preparing a comprehensive plan to establish 13 dry ports and logistical centers at the republic level. .

 

With regard to the activities of the Suez Canal, the minister explained that it is intended to increase the volume of traffic crossing the canal and the revenues generated from it by 5 percent during the year of the plan, so that the canal will achieve an income of $ 6 billion, and the shipping line development projects include completing the implementation of the construction of tunnels below the Suez Canal, and the completion of the modification of the northern and southern entrance in the Al-Balah area, and the development of the West Port Said branch, while continuing to apply a flexible pricing policy to enhance the competitive advantage of the canal, develop the canal's economic zone, and expand logistical centers to stimulate the localization of high-tech international companies.

 

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