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Thursday, 3 August 2017

Cabinet approves amendments to Auctions and Tenders Act, EUR 290 mn facility from EBRD for 100 new locomotives

The Ismail government approved in principle yesterday amendments to the Auctions and Tenders Act that would decentralize tender procedures and streamline the selection process for winning bids, according to a Cabinet statement. The amendments, which we took note of in June, will promote two-stage tenders to give the government more options when choosing contractors and suppliers, while also curbing spending by placing restrictions on the amount bodies can pay out in a tender. The amendments will now be sent over to the House of Representatives for passage.

Cabinet also signed off on a EUR 290 mn facility from the European Bank for Reconstruction and Development (EBRD) to help finance the Egyptian National Railway’s purchase of 100 new locomotives. Other key decisions include:

  • Granting preliminary approval to set up the Upper Egypt Development Authority to follow up on investments and projects;
  • Sanctioning the establishment of the Golden Triangle Special Economic Zone Authority;
  • Approving amendments to the Environment Law’s executive regulations.

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