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Egyptian Railways posts EGP 952.9M consol revenues in 5 months

Sunday 03-09-2017 - 01:39 PM
News Agencies
Egyptian Railways
Egyptian Railways posts EGP 952.9M consol revenues in 5 months - Archive Photo
Cairo - Egyptian National Railways achieved LE 952.9 million ($54 million) consolidated revenues during the period between February and July 2017, Central Agency for Public Mobilization and Statistics (CAPMAS) reported. 


In its monthly bulletin, CAPMAS highlighted that July was the highest month in terms of revenues, where the authority recorded LE 192.1 million compared to LE 149.6 million in June of the same year. 


Last month, the Egyptian National Railways signed an agreement to purchase 100 train engines worth $575 million from General Electric (GE). This project will be funded by the European Bank for Reconstruction and Development (EBRD). 


The Egyptian Railways Authority budget in the fiscal year 2017/18 is LE 3 billion. Minister of Transportation Hesham Arafat said in a June statement that it should have been LE 9 billion in order to continue its developmental projects. 


Regarding the accidents that took place, a total of 675 accidents were reached in the period between March and July 2017, while May solely recorded the highest number of accidents; 159 accidents. 


On the other hand, June had the lowest number of accidents; 116, followed by July with 142 accidents, CAPMAS revealed. 


The ministry had renovated 178,584 kilometers (km) of railroads during fiscal year 2016/17. Of those, 70 km were renovated between January and June 15, 2017. 

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