The government has reached an agreement with the US’ Progress Rail Locomotive (PRL) to supply 70 locomotives by the end of June 2020, Transport Ministry Kamel El Wazir said on the sidelines of a conference. The minister said that President Abdel Fattah El Sisi reached an agreement with the company chairman on Saturday to reduce the price by USD 45 mn to USD 405 mn for 141 locomotives. The Transport Ministry said last month that it will sign a USD 430 mn agreement with PRL to purchase 50 new locomotives and repair 50 existing ones.
More from Enterprise
The digital EGP won’t look different at checkout — but it will work nothing like InstaPay
Every instant payment today depends on your bank or telco.…
Granite is about to test whether Egypt’s funds still need administrators
The asset manager and blockchain builder Tarmiiz have entered the…
Egypt is fixing how deals get executed, but what pushes investors offshore runs deeper than the reforms on the table
Investment Ministry and a Senate committee are both moving to…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…