Egypt has resolved to invest on a $255 million electric train project that will run to the country’s planned new administrative capital.
The train which will also be funded by China, according to officials, will save millions of dollars in fuel subsidies and reduce traffic.
The railway will connect the Cairo suburb of Al-Salam City with the new metropolis east of Cairo.
The project is set to start within two to three months, the head of the National Authority for Tunnels (NAT), Mr. Tarek Gamal Al-Din, has said.
The project will be financed through a loan from China to be paid back over 20 years.
After it is completed, the project is expected to save the state $130 million in fuel subsidies and vehicle traffic.
It will also cut traffic by 30 per cent on a highway connecting the capital to the Suez canal at Ismailia port city, northeast of Cairo.
The train will be able to transport 340,000 passengers daily.
The railway, which will cover 68km and will mostly be above ground, will run through the northeastern Cairo suburbs of Badr and Al-Shorouk,
Source – APA
THE ROTTEN FISH: CAN OF WORMS OPENED OF APC & TINUBU'S GOVERNMENT OVER NIGERIA'S ECONOMIC DOWNTURN
WATCH THE CRITICAL ANALYSIS AND KNOW THE RESPONSIBLE PARTIES TO BLAME FOR NIGERIA'S ECONOMIC CHALLENGES, WHILE CITIZENS ENDURE SEVERE HARDSHIPS.Watch this episode of ISSUES IN THE NEWS on 9News Nigeria featuring Peter Obi's Special Adviser, Dr Katch Ononuju, 9News Nigeria Publisher, Obinna Ejianya and Tinubu Support Group Leader, McHezekiah Eherechi
The economic crisis and hardship in Nigeria are parts of the discussion.
Watch, leave your comments, and share to create more awareness on this issue.
#9NewsNigeria #Nigeria #issuesInTheNews #politics #tinubu THE ROTTEN FISH: CAN OF WORMS OPENED ...
DON'T FORGET TO SUBSCRIBE AND LEAVE YOUR COMMENTS FOR SUBSEQUENT UPDATES
#9newsnigeria #economia #economy #nigeria #government @9newsng
www.9newsng.com