Egypt Railways eyes €170mn-trains deal

Egyptian National Railways Authority is currently studying purchasing 10 new railway trains from Europe to develop Cairo-Alex and Cairo-Aswan routes by 2016, Essam Selim -chairman of IBIS Consulting- said Tuesday.

Speaking to Amwal Al Ghad, Selim stated that the contract comes among the loan estimated at €170 million which is provided by the European Bank for Reconstruction and Development (EBRD).

The loan will be dedicated for developing railway lines and improving the quality of rail cars as well as the provided services for the citizens, the official noted.

About the deal on supplying the new railway trains, IBIS Consulting has started studying the quality and specifications of the rail cars and tractors that will be imported from Europe, Selim clarified.

Chairman Selim further clarified that the Egyptian authority is to sign the contract officially after IBIS finishes its study about the project.