Prime Minister Sherif Ismail denied on Saturday the government's intention to privatize the railways.

"We are seeking to achieve a large leap in the railways in the coming period," Ismail told reporters, citing a contract signed with General Electric (GE) to provide new 100 locomotives to Egypt.

"The new locomotives will be operational at the beginning of 2018," the premier added.

As for a new law on state lands, Ismail said its executive regulations are being mulled by the legislative committee of the cabinet, before being referred the State Council on Monday.

Source : Mena