Six agreements were signed between the Ministry of Transport and international companies on the sidelines of the Egypt Economic Development Conference, to implement projects worth USD 2.2 billion in ports and railways.
In the transport sector, the signed agreements involved logistic projects at the Ain Sokhna Port worth 4 billion EGP (USD 524 million) with the Dubai Ports World Company, and a partnership agreement worth USD500 million (USD 415 million) with the Chinese AVIC International Holding Corporation to manufacture trains in Egypt and an agreement to establish, operate and finance the Alexandria-Abu Qir electrified train with a total cost of USD 500 million, thecairopost.com informs.
Also, the ministry signed a memorandum of understanding for investment in a freight transport railway between Sokhna and Helwan at a total cost of USD 490 million.
Another memorandum of understanding was signed to build and develop a multi-purpose station at Alexandria Port worth $250 million. The Ministry of Transport further signed a memorandum with the Italian state-owned Railway Authority regarding general consultations on the Cairo-Alexandria high-speed train project, as well as Abu-Qir railway line development project.
Minister of Transport Hani Dahy also met with a representative from the China Harbor Engineering Company (CHEC) to discuss initial technical and economic studies carried out to implement a high-speed train project to link between Alexandria and Aswan.
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