Egyptian Minister of Transport, Dr Mohamed Rashad has said the Cabinet will offer a high-speed rail project for private sector participation in 2013, upon the conclusion of feasibility studies within the next six to 12 months.
The high-speed train will link the cities of Alexandria, Cairo, Aswan and Hurghada at a speed of up to 300km per hour, said Rashad.
“The full project is estimated to cost more than $16.4bn,” the minister was quoted as saying by Zawya. “Some Asian, Arab, Chinese, Italian and Spanish companies have expressed interest in bidding for the project,” he added.
The project is expected commence, in several phases, in the second half of 2013 and will require four to five years to complete, he said.