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Wednesday, 19 September 2018

Russia’s Transmashholding to deliver first batch of railway cars in October

Egypt will be receiving in October the first 500 batch of 1,300 railway cars from Russia’s Transmashholding, Egyptian National Railways (ENR) head Ashraf Raslan said, Al Shorouk reports. The cars will be used in lines servicing the Upper Egypt area, he said. Egypt’s Cabinet approved in August ENR’s agreement with Transmashholding to supply the railway cars financed through a loan by a Russian-Hungarian banking consortium. Egypt will pay around EGP 17 bn to buy the cars, with final delivery rolling out within a year. On a related note, the ENR signed an MoU yesterday with Progress Rail Locomotive to purchase 50 new locomotives, repair 91 old ones, and service 141 others under a 15-year contract. The value of the agreement was not disclosed.

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