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Monday, 16 September 2019

Egypt in talks with int’l financiers to fund railway electromechanical works

The Transport Ministry is in talks with international financiers to fund railway signaling system upgrades for the Giza-Beni Suef and the Luxor-Aswan lines, Minister Kamel El Wazir said, according to Al Mal. France’s Alstom is reportedly bidding to develop the Giza-Beni Suef line. The government is planning to spend EGP 56 bn in five years to upgrade signaling systems across the country, EGP 17 bn of which will be acquired from foreign lenders.

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