The Ministry of Transport issued a statement regarding what was circulated on a number of social media platforms and websites regarding the Ministry of Transport's intention to sell some of the assets of the light electric train and the electric express train to pay off the implementation loans.
With regard to railways and metros, cooperation takes place in the field of management and operation under the usufruct system, provided that the operator bears all operating expenses and depreciation in return for a percentage of the profits to the Railways Authority. The railway, metro or electric traction facilities (electric fast train network - subway - light electric train LRT - monorail) were not offered to sell their shares.
The ministry affirmed that all that was reported about the tendency to sell some of the assets of the light electric train and the electric express train to pay off the implementation loans is completely unfounded and the Ministry of Transport did not intend to sell any of the assets to pay off the loans for the implementation of its projects, as all projects are carried out according to detailed feasibility studies and financing plans that were scheduled in coordination with all concerned authorities in the country.
It has been contracted to manage and operate the first phase of the fast electric train network with a length of 2000 km with the German Railways (DB) for a period of 20 years, with continued ownership of the Egyptian state represented by the Ministry of Transport.
It is worth mentioning that a contract was signed with the French RATP to manage and operate the light electric train (LRT) in return for a percentage of the revenue, and that what was mentioned about the train achieving losses amounting to 27 million pounds in the first year of operating the light electric train (LRT) is completely unfounded.
The Ministry of Transport also confirms that with the completion of the stages of the train, it will achieve at least sufficient profits to recover the price of the assets within 20 years
It appeals to citizens not to succumb to these rumors that aim to create confusion in public opinion, and to draw correct information and facts from its official sources.
Follow the latest news on Google News
