Railways revenues increase to LE 168.6M in April

CAIRO – 24 May 2018: Revenues of Egyptian Railways Authority recorded LE 168.6 million ($9.39 million) in April 2018, compared to LE 153.6 million in the same month of 2017, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

On a month-on- month basis, the revenues decreased as they recorded LE 175.3 million in March.

CAPMAS said that train passengers recorded about 20.9 million in April 2018, compared to 21.3 million in April 2017 and 21.8 million in March 2018.

The amount of cargo transported through the railway in April reached 364,500 tons, compared to 433,600 tons in the same month of 2017 and 401,400 tons in March 2018.
The statement revealed that 165 rail accidents took place in April 2018.

By the end of fiscal year 2016/2017, Egyptian Railways Authority recorded an actual loss of LE 6.3 billion, compared to LE 4.3 billion estimated for the same year.

President Abdel Fatah al-Sisi said earlier that Egypt’s rail lines require funds ranging from LE 200-250 billion to upgrade them.

Minister of Transport Hesham Arafat said that railway networks’ infrastructure has aged, especially its signaling systems and track, and that they require upgrading.

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

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