Egypt set soon to sign EBRD financing agreement for 100 railway locomotives

The National Railways Authority (NRA) will sign in the coming days a financing agreement with the European Bank for Reconstruction and Development (EBRD) for the purchase of 100 new locomotives, a source close to the matter tells Al Mal. The authority is expecting to launch a tender by no later than next month. In related news, the NRA is set to sign in August a 15-year maintenance agreement for 1,300 railcars it had agreed to purchase from Russia’s Transmashholding under a EGP 22 bn contract signed last year. The Russian company will set up shop in Egypt to maintain the rolling stock and provide training to laborers over the 15-year term. Egypt is set to receive the first car next March.