The Egyptian National Railways (ENR) has received bids from 13 international companies to supply 1,300 railway cars, Al Borsa reports. The Transport Ministry is expected to select the best offer and sign the contracts within two-three months. Minister Hisham Arafat had said in November that the ministry was choosing between three rival bids from Italy, China, and a Hungarian-Russian consortium, and would announce the winning offer by December. The tender had initially been for 800 locomotives.
More from Enterprise
How correspondent banking works, and what the FinCEN clampdown on Banque Misr UAE means for business
As FinCEN proposes cutting Banque Misr’s UAE branches from USD…
Inside the financing of Egypt’s IPP boom
The contracts and the resources are proven, so the open…
Why EGX stocks are going under the IPO wave
Fund managers are releasing liquidity for ongoing and future IPOs,…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…