Egypt urgently needs 41 billion pounds ($5.7 billion) in order to develop 700 outdated carriages and 21 tractor units, the country’s minister of transportation told local media Saturday.
Minister Hany Dahy told sate-run news agency MENA the government was currently negotiating with Chinese, Hungarian and Spanish companies to carry the development process.
Some 212 air conditioned carriages are expected to be received soon, Dahy said.
The Transportation Ministry did not comment on the funding source.
Egypt’s Railway Authority saw its revenues drop 34 percent in 2013 due to repeated suspensions in its operations as a result of security reasons.
Around 1.4 million passengers use the railway on a daily basis in Egypt.
Deficiencies in the ailing system had resulted in several accidents in 2013, increasing the number of fatalities to 781, which marks a 74 percent rise from 2012, according to a report by the state-run statistics agency CAPMAS.
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