The Minister of Transport has denied recent media reports that the Railway Authority is considering issuing LE 10 billion bonds to finance a number of investment projects, Al-Shorouk newspaper reported, citing Minister Alaa Fahmy.
According to Beltone Financial’s market report, there is neither a plan nor an intention to issue bonds, Fahmy explained adding that the authority has assets that are worth LE 23 billion and that transport projects are not short of funding.
The Railway Authority deals with five different banks and has a sizeable investment portfolio, in addition to the fact that participation of the private sector is sufficient to finance vital transport projects.
