Egyptian Railways to manufacture 50% of contracted vehicles

CAIRO – 19 March 2018: Egyptian Railways Authority will manufacture 50 percent of the locally contracted 1300 train vehicles through a joint agreement with the Arab Organization for Industrialization, Chairman of the authority Said Salem stated.

“Before the end of June, the technical examination of the advanced offers for these vehicles will be completed, as well as the announcement of the winning bid,” Salem added to youm7.

Minister of Transport Hesham Arafat said in February that a technical committee has been formed to examine the offers for manufacturing 1300 train vehicles.

Arafat noted earlier that railway networks’ infrastructure has aged, especially the signaling systems and tracks, and that they require upgrading.

He said that the ministry is exerting efforts to improve the basic rail infrastructure by constructing, investing and operating, but a huge amount of money is needed.

The authority recorded an actual loss of LE 6.3 billion by the end of fiscal year 2016/2017, compared to LE 4.3 billion estimated for the same year.

Meanwhile, The revenues of the Railway Authority recorded LE 190.7 million ($10.8 million) in January 2018, compared to LE 164.1 million in January 2017 and LE 168.7 million in December 2017.

The Egyptian Railways Authority’s budget in fiscal year 2017/18 is LE 3 billion.

Arafat said in a June statement that a budget of LE 9 billion is needed to continue the developmental projects.