Full steam ahead for Egypt-Sudan rail network

Sudanese protesters from the city of Atbara arrive at the Bahari station in Khartoum last year to celebrate transition to civilian rule. (File/AFP)
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Updated 27 October 2020

Full steam ahead for Egypt-Sudan rail network

  • Gateway project will open continent to new trade and jobs, says Cairo minister

CAIRO: Egypt’s Minister of Transport Kamel Al-Wazir has discussed plans with Sudanese counterpart Hashem bin Auf to build a cross-border railway network between the two neighboring countries.

The pair discussed terms of a joint cooperation document for railway connectivity, which aims to provide funding for an economic, social and environmental feasibility study for the project.

The planned network will extend from the Egyptian city of Aswan across the southern border to Sudan’s Wadi Halfa in its first phase.

Funding will be organized through cooperation between Egypt, Sudan and the Kuwait Fund for Arab Economic Development.

Al-Wazir signed the document and delivered it to the Sudanese ambassador in Cairo for signing by the country’s transport minister.

The two sides also discussed a number of road projects, including a prospective land road between Egypt and Chad through Sudan. The project aims to be a gateway for trade between the two countries, Chad and West Africa. The Cairo-Sudan-Cape Town road, which passes through nine African countries, was also mentioned by the ministers.

Al-Wazir also said that Egypt is building a Cairo-Arqin road corridor inside its borders, which passes through the governorates of Fayoum, Beni Suef, Minya, Assiut, Sohag, Qena, Luxor and Aswan, and then then extends to the Egyptian border, passing through the Toshka junctions to Arqin, parallel with Sudan.

He added that the new project is important in achieving land connectivity and increasing trade with African countries, as well as serving Egyptian and African citizens, opening new job opportunities and encouraging comprehensive development.

The Sudanese side also requested cooperation with Egypt in maritime transport and the training of maritime cadres at the Arab Academy for Science, Technology and Maritime Transport.

Al-Wazir said that Egypt will provide its capabilities to train the workers, whether through the Arab Academy, Egyptian ports or the Egyptian Authority for Maritime Safety.

The two sides also agreed to hold a joint meeting to follow up on the progress of other cooperation projects and to discuss the development of the Nile Valley Authority for River Navigation.

Al-Wazir’s team said that the coming period should include urgent plans to develop the authority, train river workers and provide support through specialized technical cadres.


Erdogan’s son-in-law leaves sovereign wealth fund

Updated 1 min 9 sec ago

Erdogan’s son-in-law leaves sovereign wealth fund

  • The 42-year-old quit as finance minister in a cryptic November 8 message on Instagram
  • His resignation was ignored by state media until it was formally accepted by Erdogan the next night

ANKARA: President Recep Tayyip Erdogan’s son-in-law quit as the deputy head of Turkey’s huge sovereign wealth fund, completing a fall from grace that began with his surprise resignation as finance minister.
Berat Albayrak had been viewed as Turkey’s second most powerful figure until his chaotic departure from the government at the start of the month.
Married to the Turkish leader’s elder daughter, the 42-year-old quit as finance minister in a cryptic November 8 message on Instagram that cited health reasons.
His resignation from the helm of the Turkish economy was ignored by state media for more than 24 hours, until it was formally accepted by Erdogan the next night.
Albayrak’s two-year tenure as economy chief saw the lira lose 40 percent of its value against the dollar and the central bank burn though most of its reserves in trying to defend the currency.
His departure was linked to Erdogan’s appointment of a new market-friendly central banker whom Albayrak had strongly opposed.
Naci Agbal, the new central bank governor, sharply raised the main interest rate at his first policy meeting last week, helping the lira halt its slide.
Yet Albayrak still held on to his post as deputy head of the sovereign wealth fund, which was created in 2016 and now manages state assets officially valued at $22.6 billion.
Erdogan’s office said little about Albayrak’s departure, noting in a one-sentence statement that he “left the board of the sovereign wealth fund of Turkey after asking to take leave.”
He was appointed as its deputy head in 2018, the same year Erdogan became its official chief.