(MENAFN) In order to overhaul Egypt's run-down railway system, Presidenet Abdel Fattah Al-Sisi says that his cash-strapped government lacks about 250 billion Egyptian pounds, or USD14.1 billion.
El-Sissi spoke during the inauguration of the New el-Alamein project, a city meant to house 3 million people on the Mediterranean coast.
President's remarks came a day after a passenger train collided with a cargo train north of Cairo, killing at least 12 people, including a child, and injuring 39.
Wednesday's crash was the latest tragedy on Egypt's poorly maintained railway tracks where deadly accidents due to negligence have killed dozens of people over the years.
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