General Electric to sign Egypt railway system upgrade deal today

Egypt and U.S. conglomerate corporation General Electric (GE) will sign Saturday an agreement for the modernisation of the Egyptian railway system.

Egyptian Prime Minister Sherif Ismail will attend the signing ceremony between Egyptian National Railways, Ministry of Transportation, and General Electric in Cairo afternoon.

GE is set to provide the Egyptian National Railways between 100 an d 200 rolling stocks, 35 percent of them will be locally manufactured, as part of the US company’s plans to boost investment in the North African country.

The extra carriages will reduce overcrowding on trains and also help to cut road congestion by attracting more people to the railways.