CAIRO: The government announced the establishment of a new public transportation company with investments estimated at one billion EGP ($1.4m), Al Ahram reported Friday.
The decision came after the meeting of Tourism Minister, Hisham Zaazou, Investment Minister, Ashraf Salman and Minister of Transport Hany Dahy.
The trio agreed to authorize Mist travel, a leading governmental travel agency, with the operation and the management of the new company.
The meeting comes in the framework of President Abdel Fatah al-Sisi‘s instructions to find urgent and effective solutions to Egypt’s traffic and transportation problems with the least possible cost.
Present at the meeting were, head of the Holding Company for Maritime and Land Transport Mohamed Youssef and the Charge d’affaires of the Holding Company for Tourism, Hotels and Cinema, Mervat Hotba.
During the meeting, details regarding the routes of the buses and the locations of the bus stops were highlighted.
The General Authority for Roads and Bridges carried out a study for initiating an insurance company against road accidents with investments worth 20 million EGP to be funded by revenues of the authority, al-Shorouq reported.
The value of life insurance will rise from 20,000 EGP to 100,000 EGP.
The Egyptian military has provided 36 buses in Giza governorate for public transportation after bus drivers raised fares more than the amount approved by the government, Youm7 reported on July 7.
An amount of 1.4 billion EGP was allocated to develop the transportation system in Egypt and provide more than 1,000 busses, Minister of International Cooperation Naglaa al-Ahwany said in a press conference at the Cabinet headquarters this month.
Last April, the Cairo Traffic Department started a project to provide 250 intersections in Cairo with traffic lights and cameras to monitor violations, according to their facebook page.
“We chose the 12 roads that witness the most road accidents and turned them into secured roads according to international standards and we are already made a survey and identified the problems that lead to most of the accidents,” al-Geuoshy told The Cairo Post in previous statements last May, adding that the Roads and Bridges Authority would re-engineer problematic roads.