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Tuesday, 28 July 2020

National Railways Authority to borrow EUR 100 mn for Siemens signaling project

The National Railways Authority will in the coming weeks sign a EUR 100 mn syndicated loan agreement with a consortium of unnamed local banks to pay Siemens for its work to install electrical signaling systems and develop railway lines and crossings, Al Mal reports, citing unnamed sources. The loan will carry a tenor of 3-5 years and will be guaranteed by the Finance Ministry.

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