Egypt to Invest EGP 512 bn in Metro Projects Until 2024: Minister

Egypt to Invest EGP 512 bn in Metro Projects Until 2024: Minister

Egypt’s transport ministry intends to pump EGP 512 bn into 22 subway projects over the next four years, as the country’s rapid transit system marks a vital plank of the state’s infrastructure development program, Invest-Gate reports.

Some eight projects, worth EGP 33.1 bn, are complete. Meanwhile, six others are currently underway, with investments worth EGP 228.5 bn, Transport Minister Kamel El Wazir announced during a meeting held on July 6.

Speaking of Cairo Metro, El Wazir underscored that 36% of works on phase III of Line III are done, which extends over 17.7 kilometers long and constitutes 15 stations, according to a recent ministerial statement.

In addition, construction of Egypt’s first Light Rail Transit (LRT) project, connecting 10th of Ramadan City and the New Administrative Capital (NAC), and coming at a total cost of EGP 32.6 bn, is almost 32% finished, the minister further stated.

El Wazir also reviewed the progress of Egypt’s National Railways Restructuring Project, pinpointing that 700 out of targeted 1,102 level crossings have been developed so far, with investments amounting to EGP 2.5 bn.

According to the minister, 39 out of 1,120 control systems have been upgraded. Besides, about 173 out of the planned 180 railway stations have been rehabilitated, with about EGP 1.7 bn, the statement highlighted.

He also mandated the strict compliance with international quality standards and commitment to set timeframes with respect to the Egyptian infrastructure development program.

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