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Wednesday, 1 June 2016

Egypt to sign an agreement with Hungary for 700 air conditioned train cars and 80 locomotives

Egypt is expected to sign an agreement with Hungary today that would see it import 700 air conditioned train cars and 80 locomotives, said an official from the Transport Ministry. According to Al Borsa, it would appear this was the agreement that dislodged a previously signed MoU with Russia, and International Cooperation Minister Sahar Nasr is reportedly in favour of the Hungarian bid, Al Mal reports. The determining factor in choosing the offer came down to terms of the finance package on offer, said the head of the National Railways Medhat Shosha.

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