Egypt urgently needs 41 billion pounds ($5.7 billion) in order to develop 700 outdated carriages and 21 tractor units, the country’s minister of transportation told local media Saturday.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.
Also Read
-
1800GMT: Terror attacks hit Egypt's Sinai and Cairo metro train
News Bulletins -
GM, Metro reopen in Egypt as Electrolux extends closure
General Motors and German retailer Metro AG reopened facilities in Egypt on Sunday while Electrolux extended plant closures until security stabilizes. ... Economy -
Egypt’s railway system on the spotlight
Special Mission -
Strike in Egypt brings the railway service to a halt
A nationwide strike by train drivers in Egypt on Sunday brought the country's railway service to a complete halt, the latest in a wave of industrial ... Middle East -
Egypts railway system in decrepit state
Despite regular deadly train accidents in Egypt, many people are bent on taking their most common, yet poorly managed means of transportation. The ... Videos -
Egypt accuses Brotherhood figure of spying for U.S., Norway
Mohamed Ali Bishr is reportedly a prominent figure of the Brotherhood and a former minister under toppled President Mohammad Mursi Middle East -
Sisi: Egypt could send forces to stabilize future Palestinian state
Sisi said he would send forces to a future Palestinian state in agreement with Israel and PA Middle East -
Egypt to host major economic conference in March
The conference aims to attract international institutions and countries to invest in a ‘new Egypt’ Economy -
Egypt raids Sinai villages, kills 10 ‘terrorists’
Egypt security forces confiscated three cars, destroyed 11 motorcycles belonging to Islamist militias and 15 of their shelters Middle East
