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Sunday, 11 March 2018

Transportation Ministry is kicking off railway privatization

Transportation Ministry to kick off privatization of railway system: The Transportation Ministry is reportedly about to begin privatizing Egypt’s railways and divvying up railway assets for the private sector to manage, ministry sources tell Al Borsa. The ministry will establish companies to manage each railway and these will be run by private companies, they added. The pilot project of the program will involve three railway lines: Ain Sokhna-New Capital, Luxor-6 October City, and Hurghada-Luxor. The ministry began procedures to establish the companies immediately following the House of Representatives vote last week to approve amendments to the Railway Act, the sources said.

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