The Transport Ministry will announce next week the results of the tender to supply the Egyptian National Railways with 1,300 railway cars for around EGP 19-20 bn, Minister Hisham Arafat tells Al Mal. The top offers were presented by China's CRRC Corporation Limited and a Russian-Hungarian consortium. The Ministry has been embroiled in heavy negotiations with the bidders in an attempt to lower costs, including extending CRRC’s four-year repayment grace period, and lowering the price offered by the Russian-Hungarian consortium from EUR 1 bn to EUR 950 mn as well as cutting maintenance and shipping costs. The agreement stipulates that the locomotives meet a 40% domestic component requirement by cooperating with either SEMAF or one of the Military Production Ministry’s factories.

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