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Wednesday, 25 October 2017

Private sector to get in on railways in 2018

Private sector to get in on railways in 2018 under proposed legislation: Amendments to the Railway Act that would open up the sector to private companies are expected to be introduced in the House of Representatives next month, said Transport Minister Hisham Arafat. He expects the legislation, which the Council of State will complete reviewing this month, to be passed in time to allow the private sector to get into the rail game in 2018, Al Borsa reports. The amendments will allow businesses to build and operate railway lines and to bid for upgrade projects. Thanks to the perpetual fear of the dreaded “P” word guaranteed by our not-so-recessive Socialist genes, the law at this time will not allow private companies to own railway assets.

Among the first projects to be opened to the private sector is the USD 7 bn Ain Sokhna-Alamein railway line, said Arafat. The line’s development will include five stations, connecting Ain Sokhna, the new administrative capital, 6 October City, Alexandria and Alamein. The 482 km line will carry both cargo and passengers, the minister added.

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