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Wednesday, 16 August 2017

Government inks agreement with China’s AVIC for electrical rail line

China’s AVIC lands Salam City-New Capital electric rail contract: The National Authority for Tunnels (NAT) signed an agreement yesterday giving China’s AVIC a significant chunk of a new electric rail line linking Salam City with Tenth of Ramadan and the new administrative capital, according to a cabinet statement. AVIC will deliver the rail line’s communication and signaling system has been tapped to manufacture and supply 20 locomotives. A consortium of Egyptian construction firms, including Petrojet, Arab Contractors, and Orascom Construction, have reportedly landed the USD 500 mn infrastructure works contract for the project. Work on the line is set to start in two or three months’ time, with the China Export-Import Bank providing as much as USD 739 mn in financing for AVIC’s piece of the project. The total budget for the rail line, which should take two years to build, is USD 1.25 bn, NAT head Tarek Gamal El Din said.

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