Transport Min. Negotiates $200 Million Loan with World Bank

The Ministry of Transport met with a delegation of the World Bank on Tuesday to secure a $200 million loan to link the 6 October dry port with El Manashy / Imbaba, in addition to implementing a dual fright railway to help boost goods transportation.

It was scheduled to put forward a global tender during the second half of this year to implement the proposed railway, as well as the pairing of the lines to be able to move the goods to maritime ports through the railway network.

It is noteworthy that the World Bank has agreed to measure a $300 million loan to fund traffic lights project on Cairo-Beni Suef road and Four international alliances have applied for the tender to win the project.

The bank has also contributed a $600 million loan to fund 4 projects in Cairo, the most prominent is the Cairo-Alexandria traffic lights.

It pointed out that 95% of the dry project implemented in the city of 6 October through an alliance from the German Chenker and El Sewedy Group.

The Ministry of Transport is expected to make an operational trail of the 6th of October Dry Port in April at an area of ​​100 feddans; with investment worth $ 178 million, as part of the 8 dry ports through out the country, the most prominent in the city of 10 of Ramadan and Sadat, next to Damietta City; to boost internal and external trade.