Egyptian Railways eyes $919mn investments in FY2015-16

The Egyptian National Railways Authority targets attracting investments worth 7.2 billion Egyptian pounds (US$918.8 million) during fiscal year 2015-16, official sources said Sunday.

The authority’s investment plan includes the development of railway wagons, the supply of 212 air-conditioned first and second-class wagons, the rehabilitation of 30 short-distanced cabs in addition to the purchase of 50 new cabs, six cranes with capacity of 120 tonnes, and buying spare parts, the sources stated.