Egypt's Ministry of Transportation plans to implement 33 projects in the near future and need the private sector to participate in them, Minister Kamel El-Wazir revealed.
El-Wazir made his statement during the monthly luncheon organised by the American Chamber of Commerce in Egypt to discuss the investment opportunities that the sector has to tap into.
These projects include eight projects in maritime transport with an estimated cost of around $2.7 billion, five projects to construct subway tunnels with a total cost of $425 million, in addition to railway projects that cost about $1.8 billion, according to El-Wazir.
The minister urged American companies to take advantage of these opportunities and submit their proposals for these projects to the transport ministry for immediate consideration.
Bids on the projects will be made through Pot, PPP, and ABC+F according to El-Wazir.
He added that Egypt’s President Abdel-Fattah El-Sisi directed the transport ministry to open the door for the private sector to invest in these projects, which mitigates the burdens on the state budget and leaves room for the private sector to play its role in the development process.
The minister clarified that investors who seek to participate in these projects have to provide visibility and environmental impact and technical studies to be allowed to invest in them after consideration.
He also stressed that the ministry eliminates any likely obstacles investors could experience, disclosing that the US-based Bechtel Corporation — an engineering, procurement, construction, and project management company — is to submit its proposal to implement Cairo Metro’s line 6.
He added that US-based company General Electric also managed to hand over 100 railway tractors to the ministry from March to October despite the COVID-19 crisis and the slowdown that the trade and export movement has witnessed since the onset of the pandemic, noting that the ministry contracted the company to supply another 110 railway tractors soon.