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Transport Ministry proposes $13.5bn investment projects in next 5 years: Minister advisor - Daily News Egypt

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Transport Ministry proposes $13.5bn investment projects in next 5 years: Minister advisor

Ministry’s projects will be proposed at Economic Summit with tenders worth $2.5b


EEDCThe Ministry of Transportation aims to present five-year investment projects worth $13.5bn over the next five years, according to ministerial advisor Ahmed Moussa.

Moussa, an adviser to the Minister of Transportation and chairman of the Egyptian Transportation Center of Excellence (ETCE), said the projects will be proposed according to the BOT system or according to the public-private partnership (PPP). This will occur in participation with the partnership units in the Ministry of Finance.

The Ministry of Transportation has prepared six projects in different sectors that will be presented to investors at the Economic Summit with investments worth $2.5bn, Moussa said. He added that these projects will be the top priority for tender.

The government plans to increase sector investments over the next five years, Moussa said, adding that investments for the past five years relied mainly on the government. This was in addition to receiving funds from financial institutions via loans.

The targeted investments will be in ports, with the ministry planning to attract investments worth $2bn for this purpose.

The ministry also plans to execute Phase I of the East Port Said Port, the development of a public goods terminal in East Port Said Port. Another terminal will be developed in Damietta with a third one in Safaga Port, as well as a terminal for containers in Ain Sokhna Port.

It is working to establish a station for liquid moulding in Ain Sokhna with investments at $500m. Moussa said the ministry’s strategy aims to create a separate integrated system for each port, adding that the ministry’s plan includes seven land ports in different areas.

The Ministry of Transportation is also targeting the building of two logistics ports in 10th of Ramadan City and 6th of October City, worth $180m.

According to Moussa, the ministry is looking to increase goods transport from 4m tonnes annually to 50m tonnes via trains, at a cost of $1bn within the next five years. He added that an integrated network will be built to transport goods.

A high-speed train network will also be established to connect Alexandria with Cairo as a first phase, at 250km in length and at a cost of $3bn. This falls within a plan to build a line connecting Alexandria to Aswan, according to Moussa.

He believes that the ministry is a main partner in the urban development the government is working on, within the 2030 strategy. The ministry has a plan to link Hurghada to Luxor using a high-speed train at a length of 250km and using an investment of $2.5bn.

The Ministry of Transportation also aims to provide public transportation projects in Greater Cairo through an electric train and a fast bus network at a length of 250km with investments at $5bn.

The projects to be presented at the Economic Summit will be announced at a meeting for the ministry Tuesday, according to Moussa. These projects include a container terminal in East Port Said with investments at $700m and goods line that links Ain Sokhna with Helwan, with investments at $500m.

The ministry will propose another project for a bus line which would link New Cairo to Heliopolis and Nasr City, at a cost of $400m in investments.

An electric train line will also be presented, which will connect Ramsis to Downtown Cairo and El-Nozha East of Cairo, with investments at $500m.

The development in the sector is within the Ministry of Transportation’s priorities, especially developing the system, according to Moussa who added the ministry will propose a river bus at a cost of $100m.

Moussa said that they cooperated with investment banks regarding the studies and marketing for the projects. Specifications for the tender offer requested by the Ministry of Investment are ready.

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https://dailyfeed.dailynewsegypt.com/2015/03/13/transport-ministry-proposes-13-5bn-investment-projects-in-next-5-years-minister-advisor/
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