Back to the complete issue
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.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.