Transport Ministry studying offers from global firms for maintenance of 100 locomotives

The Transport Ministry is reportedly studying offers from global firms, including Canada’s Bombardier and the US’ EMD, on a maintenance contract for 100 locomotives, according to unnamed ministry officials. Feasibility studies set the project’s estimated value at USD 125 mn and the offers include financing options in the form of facilitated loan agreements, the sources tell Al Mal, explaining that the ministry might delay its response for about three months in order to draft a repayment plan. The Transport Ministry has inked a USD 575 mn supply and maintenance agreement with General Electric and a EUR 290 mn agreement with the European Bank for Reconstruction and Development to purchase new locomotives needed for planned railway upgrades.