The Transport Ministry says it is targeting investments in the country’s road network, railways, public transport, ports and river transport.

The ministry has signed a memorandum of understanding with National Bank of Egypt to establish a £E10bn fund to invest in the country’s roads.

According to the ministry, it will have spent an estimated $8bn in the country’s ports by 2011.

Of the $8bn, Cairo has already invested $3.7bn in its ports since 2006.

Cairo is also planning to establish a company to build and manage railway projects worth £E2.5bn including the £E500m monorail project proposed for Alexandria.

The government will retain a 10 per cent stake in the company, with 51 per cent taken by local shareholders and the rest sold to the public.