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FinancialNews
10-04-18
Egypt to invest USD3bn in railway renovation project
(MENAFN) Egypt is to spend around USD3.11 billion for a project to develop its old railway system by 2022, Minister of Transport Hesham Arafat declared.
Egypt has a "clear and comprehensive plan" to renovate the entire system of the railway while the minister makes his tour to Giza railway station on the Sham El-Nessim holiday, as explained in a report by state-run Al-Ahram news website.
Minister Arafat informed reporters that the country secured agreements for the acquisition of 100 tractors from General Electric along with overhauling 81 others.
He also confirmed Egyptian citizens to experience a developed railway system that is currently in "ailing" situation, as the ministry considers agreements to buy 1.300 new passenger carriages and 300 cargo ones.
MENAFN1004201800450000ID1096715303
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