The Ministry of Transport denied Sunday social media reports about planning to sell some assets of the ministry's Light Rail Transit (LRT) and electric express train projects to pay off implementation loans.
According to feasibility studies, these projects are predicted to generate profits that will cover the cost of assets and make up for construction costs within 20 years, said the ministry in a statement, dismissing such news as groundless.
These projects are public property, stressed the ministry, noting that the 4-line express electric train network will be extended all across the state, over 2,250 km in total, to serve as development lifelines for new and existing urban and industrial areas.
The ministry urged all media outlets and followers of social media to verify any news before publishing it so as not to incite public opinion.
Source: State Information Service Egypt