Egyptian Ministry of Transport received an offer from Latvia to supply and manufacture 300 railway carriages.
In a press release, Transport Minister Galal El-Saeed stated Monday that the offer includes manufacturing 150 carriages during a year and a half besides training a group of Egyptian engineers on the technology used in making the carriages.
Manufacturing the other 150 carriages is scheduled to start from the beginning of the sixteenth month, the minister clarified.
The minister made these remarks on the sidelines of his meeting with Latvian Ambassador to Cairo Iveta Šulca with the attendance of representatives of RVR railways company and other officials.
The Egyptian government adopts a programme to upgrade railways system during the upcoming two years with total cost of 2.5 billion Egyptian pounds.
On other side, Egyptian National Railways incurred losses estimated at around 4.48 billion pounds (US$500 million) during fiscal year 2016-17, the official statistics showed.
The Republic of Latvia is a country in the Baltic region of Northern Europe, one of the three Baltic states. It is bordered by Estonia to the north, Lithuania to the south, Russia to the east, and Belarus to the southeast, as well as a maritime border to the west alongside Sweden.