LE 5.4 Bln spent on developing transport sector in FY 2021/2022: Report

CAIRO – 2 July 2022: Transport projects are one of the most important goals of Egypt’s national projects, represented in the national road network, with more than L.E. 5.4 billion were spent on developing roads during fiscal year 2021/2022 as part of the Haya Karima presidential initiative.

As part of the initiative, developing roads and improving the quality of transport services is a priority in more than 4,600 villages, according to a report by the Ministry of Planning and Economic Development.

A total of 9,000 km of internal and main roads are being paved, and 634 car and pedestrian bridges are established and developed, in addition to the development of 116 railway stations to serve the people of 1,477 villages within the first phase of the initiative.

The report pointed out that public investment directed to the transport sector exceeded 665 billion pounds during the past eight years (14/2015-21/2022), with a rate of more than 454 percent, compared to the previous eight years (2007/06- 13/2014), where the annual investments directed to the sector increased from 16.2 billion pounds in 2014/13 to 222.5 billion pounds in 21/2022, with a growth rate of 1,273 percent.

The report indicated that the total investments of the transport sector in the general plan (22/2023) are estimated at about 307 billion pounds, and about 72 percent of the total belongs to the economic authorities.

Public investments in total constitute about 91 percent of the total investments in the sector, and these investments are given priority to finish the projects that are almost completed in the national project.