EGP 360 billion to finance the “Ain Sokhna” train … the absence of priorities in a “strong poor” country

The leader of the coup gang, Abdel Fattah Al-Sisi, shocked the Egyptian people by signing a final agreement with the German company “Siemens” to start the “express electric train between the administrative capital and Ain Sokhna” project at a cost of 23 billion dollars, equivalent to 360 billion pounds, amid accusations of fictional estimates and the absence of priorities in light Corona’s invasion, amid the collapse of health and educational conditions, and days after the decision to close the iron and steel complex.
Observers wondered about the economics of the project and the benefits of it .. Is it tourism, industrial, or mining?
Observers believed that the electric train cost is sufficient to establish 360 hospitals equipped with the latest devices, and more than 1000 schools equipped for 3 educational stages, which means 120 times the cost of the rainwater drainage network.

The Undersecretary for the Plan and Budget Committee of the Image People’s Council in 2012, Engineer Ashraf Badr al-Din, said: “The Sisi government signs an agreement to build an electric express train at a cost of 360 billion pounds, but the ghalaba trains put their money in the bank … and take one billion pounds in interest,” referring to him to a statement. Al-Sisi, “Instead of spending 10 billion pounds to develop the railway, I take them in the bank and benefit from one billion pounds in interest, or 2 billion pounds.”
In his comment on “Facebook” researcher Ahmed Lotfy added that “the problem of the train project is two-fold, the first with regard to priorities in absolute terms, because it is not logical to link Ain Sokhna to Al-Alamein, passing through the” new asphalt “and the rest of the country. The second part, the project is of no use. Economic, I mean, if we say that Cairo is linked to Luxor, Aswan and Hurghada, for example, then it may be. “

https://twitter.com/amrwaked/status/1349699780507787265

Escalating cost

Last September, the coup government announced the Egyptian alliance of Samcrete and the Chinese companies “CCECC” and “CRCC” to bid for the implementation of the Egypt express train, at a cost of 9 billion dollars, or the equivalent of 145 billion pounds, which can be extended.
While the proposed cost of the project until November 2018 was half that of the previous value, according to Engineer Tariq Abu Al-Wafa, Head of the Central Planning Authority at the National Tunnels Authority, the implementation of the project would be in 3 phases, with an estimated cost of the project reaching 70 billion pounds, noting that the project will be Executed over 30 months from the date of the contract.
“El Sewedy Electric Company” confirmed that the idea is not to establish a new line, as it announced that it won last year a tender to convert 6 highways to the smart transportation system, at an investment cost of 1.8 billion pounds, and the actual implementation of the project will start in August 2020 for a period of 18 months.
The Egyptian company won more than one project for the Ministry of Transport during the past period, including the “Abu Tartour-Safaga” railway, at a cost of 300 million pounds, and its implementation period is 24 months, with an operational capacity to transport goods starting at about 2.6 million tons annually, which is increased to 6 million Tons per year.

Meanwhile, reports revealed that the state will not benefit from the project for about 10 years, as the winning consortium (Siemens) will arrange the financing and operate it under the usufruct system. This denies the claims of some that the project will achieve transportation of goods from Suez to Alamein in Alexandria and increase the logistical power of Egypt in the movement of goods to Europe with a length of about 1000 km, 50% of which was implemented according to the Ministry of Transport of the coup government.
While observers emphasized that the electric train bill payment system (Ain Sokhna – El Alamein), if it was not for the usufruct system, then it means more loans, which means more poverty and debt repayment.

Gulf rich
Activists emphasized that making profit from the services that the coup carries out from collecting taxes and escalating fees on the people is not to serve the people but rather to serve the pioneers of resorts (entertainment) in Ain Sokhna and El Alamein.

Magdy Rashad commented, asking: “What is the economic feasibility of a high-speed train linking Al-Sokhna, the administrative, and Al-Alamein, apart from providing a high-speed transportation facility for the berthing of yachts of a few hundred wealthy people in the Gulf in Ain Sokhna and then transporting them by express train between their palaces in the administration and the new Alamein?”
The train will link “New Alamein” and “Ain Sokhna” through the Administrative Capital, 6th of October City, Alexandria and Burj Al Arab City, with a length of 543 km and a speed of 250 km per hour.
The coup government claimed that it would transport one million passengers, while the metro carries about one and a half million passengers every day, although it passes through densely populated areas and has great importance in transportation in Greater Cairo.


Source: بوابة الحرية والعدالة by fj-p.com.

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