The Transport Ministry has postponed the Alamein-Ain Sokhna high speed railway due to the project’s high cost, reports Al Shorouk, citing a ministry official. The ministry is still considering bids from the two consortiums of predominantly Chinese companies for the project, who have met the technical requirements. The ministry is also negotiating a USD 2.2 bn loan for the monorail project with three international financing institutions, namely the European Bank for Reconstruction and Development, the European Investment Bank, and an unspecified English bank.

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