Governor of Alexandria Abdel Aziz Konsowa said that the governorate needs between EGP 3bn and EGP3.5bn to improve the efficiency of 3,000 kilometers of roads.
Konsowa estimated that the investment needs of Alexandria last year at EGP 20bn, of which only EGP 550m were saved from the state budget and about 5 times those allocations were provided from the self resources of the governorate through partnerships.
The foundational stones of the metro line in Alexandria will be laid within two or three months at most, the governor said.
“The transport system in Alexandria needs significant development and investment by the private sector. As for the government, it is working to improve the condition of roads,” he noted. “We are seeking to implement a ticket system that allows citizens to use any means of transportation in Alexandria through a single card, a role that the private sector expects to achieve in terms of integration.”
During his speech at the Future of Investment Conference in Egypt, Konsowa explained that the best support by the private sector is to improve the investment climate. Therefore the governorate is working on the creation of practical solutions, as development needs to join forces between all parties, whether the private sector or the government.
He disclosed that local the administration in Alexandria governorate supports the investment environment despite the difficulties, challenges, and problems it faces, pointing out, “There are many important projects that we are working on and that aim to serve the development of infrastructure.”
The governor added that the development processes and attracting investment will not be achieved without a private sector that supports these investment ideas and in accordance with the existing strategic plans, in addition to encouraging investment in oil, which must support the added value, in the presence of a qualified human element in such industries.