Latest news with #EgyptianRailways
Zawya
08-05-2025
- Business
- Zawya
Egypt's railway authority to borrow $494mln to fund projects: Report
State-owned Egyptian Railways Authority plans to borrow nearly 25 billion Egyptian pounds ($493.60 million) from a consortium of local banks to fund a package of projects and finalise ongoing ones, according to a news report. The loan will be guaranteed by the Ministry of Finance, Ashraq Business reported, citing unnamed sources. The funds will be used to develop and renovate train tracks and complete the development of operating systems on the main tracks linking the governorates of Upper and Lower Egypt. Additionally, funds would be used to renew maintenance contracts with foreign companies for rolling stock and locomotives. Egypt's railway network extends 9,570 km, serving 23 governorates and transporting 420 million citizens annually. (Writing by P Deol; Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
See - Sada Elbalad
11-04-2025
- Business
- See - Sada Elbalad
Railway Deal with Hungary Largest in Egypt's History, Says Trade Min.
Taarek Refaat Kamel El-Wazir, Minister of Industry and Transport said that a deal with Hungary is the largest in the history of the Egyptian Railways, and is one of the fruits of the massive contracts concluded based on the directives of President Abdel Fattah El-Sisi to develop the railway sector. This came in a speech delivered by the minister during the 5th session of the Egyptian-Hungarian Joint Committee for Economic Cooperation, which witnessed the participation of Péter Szijjártó, Minister of Foreign Affairs and Trade of Hungary, along with a number of officials from both sides. He noted that Egypt is ready to cooperate with Hungarian companies to establish new factories to help meet the needs of the local market and export abroad, especially given the promising Egyptian market and its diverse manufacturing capabilities. The Minister praised the existing cooperation between the two sides in the field of railways, particularly in light of the completion of the deal to manufacture and supply 1,350 new passenger railway cars through the Hungarian company Ganzmavaj for the Egyptian National Railways Authority. "To date, 1,037 cars have been supplied from the deal and have entered service with the Authority. These cars vary in size from (third-class dynamic ventilation, third-class air-conditioned, second-class air-conditioned, and first-class air-conditioned), in addition to second-class and third-class air-conditioned buffet cars," the minister noted. He added that the deal also contributes to improving the efficiency of daily operations and the regularity of operating schedules. He added that the new trains arriving will be gradually added to the railway's daily operating schedule to maintain the continuity of providing distinguished services to passengers. He pointed to the possibility of cooperation in the field of new and renewable energy. He also noted the possibility of localizing these industries in Egypt by relying on modern technology and the extensive expertise of Hungarian companies in these industries. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Arts & Culture Arwa Gouda Gets Married (Photos)
