Page 26 - LUA November - December 2023 for Magzter

NEWS
Egypt approves $400 mn loan deal
for Cairo-Alexandria rail logistics
gypt President Abdel
EFattah El Sisi approved a
$400 million loan agreement
to finance the Cairo-
Alexandria Trade Logistics
Development Project.
The deal is between the
Egyptian government and
the International Bank
for Reconstruction and
Development (IBRD).
On October 3, 2022, the
World Bank announced
that its Board of Executive
Directors approved a
$400 million development
financing agreement to
enhance the performance
of the logistics and
transportation sectors in
Egypt and to support the
shift towards low-carbon
transportation along the
Alexandria–the 6th of
October–Greater Cairo Area
(GCA) railway corridor.
AfDB approves $196mn loan to
modernise Namibian freight railway infra
he Board of Directors of the government will provide the
TAfrican Development Bank remaining 48.2 percent.
Group (AfDB) has approved a loan The project entails constructing
of $196.43 million for Namibia 207 km of new rail track close to
to implement the second phase the existing line between Kranzberg
of its Transport Infrastructure and Otjiwarongo, using concrete
Improvement Project (TIIP). railway sleepers and new rails. The
The loan, approved on 31 October works include constructing 16
2023, represents 51.8 percent of the bridges, renovating two stations,
project’s total cost. The Namibian and procuring 55,000 tonnes of rails
to build 518 kilometres of track.
24 LUA
Transnet to
remain in public
ownership; SA
President clarifies
he South African president
TCyril Ramaphosa issued
a clarification after media
reports based on a leaked draft
version of the Freight Logistics
Roadmap claimed that the
president seeks to place the
rail, port and pipeline company
Transnet under private control.
“Inaccurate media reports
have created the impression
that the presidency seeks to
place Transnet under private
control. This is not the case.
South Africa’s port and rail
infrastructure are strategic
national assets, and government
has taken a clear stance that
they will remain in public
ownership,” reads the release.
In SONA 2023 (State of the
Nation Address), President
Ramaphosa committed to
putting in place a roadmap
for the freight logistics system
in order to improve the
performance of South Africa’s
ports and rail network and drive
economic growth.
NOVEMBER - DECEMBER 2023