GE to start work on upgrading old locomotives in a month

General Electric will start work on refurbishing 81 old locomotives in a month, a source at the Egyptian National Railway (ENR) tells Al Borsa. The upgrades come as part of a broader USD 575 mn agreement, under which GE will supply Egypt with 100 new locomotives. ENR is receiving a EUR 290 mn loan from the European Bank for Reconstruction and Development to help finance railway upgrades.