New company to manage assets of Egypt’s railways authority
The Egyptian government recently decided to establish a new company to manage the assets of the Egyptian Railways Authority, reports Al-Hayat daily.
The company is expected to run the authority’s assets in cooperation with the private sector in a more efficient manner than in the past, with the hopes of maximizing revenues. The company will reportedly begin by finding ways to utilize presently idle railway terminals.
Official sources reveal that revenues of the Egyptian Railways Public Authority was valued at 494 million Egyptian pounds ($129.3 million) during the period of June 2000-June 2001, compared with EP 436 million in the corresponding period of the previous years. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)