Egypt’s total investments in transport sector close to LE 1T: Prime Min.

BY

Sun, 16 Aug 2020 - 11:29 GMT

Egyptian Prime Minister Moustafa Madbouli- press photo

Egyptian Prime Minister Moustafa Madbouli- press photo

CAIRO – 16 August 2020: Total investments in the transport sector which are being implemented are close to LE 1 trillion [about LE 950 billion], according to Egypt’s Prime Minister Mostafa Madbouli.

 

Madbouli noted Sunday that the government has spent about LE 442 billion on the projects, adding that projects worth 520 billion pounds will be implemented in the coming years.

 

He pointed out that 7,000 kilometers of roads have been implemented by all sectors of the state

 

“Many development projects have been implemented in the transport sector during the past six years” the primer clarified during the inauguration of the fourth phase of the metro line, in the presence of President Abdel Fatah Al-Sisi, pointing out that the transport sector is the artery of development.

 

He explained that his country continues to expand horizontally in order to overcome the challenges of housing increase through the completion of transport projects, pointing out that the implementation rates of projects that were planned to be implemented in 2052 have been exceeded during the last few years.

 

The Prime Minister also reviewed the country's strategy for developing the transport sector and raising the efficiency of roads.

 

He stressed that 15 axes were completed during the current fiscal year 2020/2021 and 3 more were added.

 

Madbouli pointed out that raising the quality and efficiency of roads within the governorates and starting the implementation of a group of roads at a cost of LE 36 billion as a first stage two years ago, noting that the government allocated LE 6 billion this year for the implementation of these roads. “Another LE10 billion were allocated according to the directives of President El-Sisi.”

 

He pointed out that the cost of raising the efficiency of the first line of the metro costed LE 22 billion, and therefore it is important for everyone to realize that preserving these investments requires good service pricing, covering the cost of operation, maintenance and overhaul.

He explained that the new road network creates great job opportunities for companies and contractors, noting that Egypt has advanced 90 positions, ranking 28 in the world in the road network and second in Africa in terms of road quality after being in the 28th.

 

Thr Primer added that the new network contributed to a decrease in the number of deaths and injuries on the road networks.

 

President Abdel Fatah El Sisi inaugurated on Sunday the fourth phase of Cairo Metro Line 3 and lay the foundation stone of Adly Mansour interchange station that will connect the New Administrative Capital with all cities and governorates of the state through various transportation means, Presidential Spokesman Bassam Rady said.

 

Comments

0

Leave a Comment

Be Social