{"id":646534,"date":"2017-06-18T04:09:45","date_gmt":"2017-06-18T04:09:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/18\/ge-lands-usd-575-mn-contract-to-supply-egypt-with-100-locomotives\/"},"modified":"2017-06-18T04:09:45","modified_gmt":"2017-06-18T04:09:45","slug":"ge-lands-usd-575-mn-contract-to-supply-egypt-with-100-locomotives","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/18\/ge-lands-usd-575-mn-contract-to-supply-egypt-with-100-locomotives\/","title":{"rendered":"GE lands USD 575 mn contract to supply Egypt with 100 locomotives"},"content":{"rendered":"

<\/a> GE lands USD 575 mn contract to supply Egypt with 100 locomotives:<\/strong> General Electric signed a USD 575 mn agreement with the Egyptian Railway Authority on Saturday that will see it deliver 100 locomotives to the country, according to a cabinet statement<\/a>. The locomotives are part of a plan to have \u201c25 mn tonnes of goods transported via railway by 2022,\u201d Reuters reports<\/a>, citing remarks by Transport Minister Hisham Arafat. The first batch of 25 locomotives will arrive in 2018<\/strong>, Arafat said.<\/p>\n

The agreement will be financed with the help of Canadian export-credit agency Export <\/strong>Development Canada<\/strong>, according to Bloomberg<\/a> and also covers upgrades to 81 old GE locomotives and 15 years of maintenance services for both new and old fleets, providing everything from tech support to spare parts.<\/p>\n

The agreement is \u201cevidence that Egypt is open for business,\u201d <\/strong>GE Vice-Chairman John Rice told Bloomberg in a phone interview from Cairo. GE is looking to invest further in Egypt, especially as reforms improve the country\u2019s business climate, Rice told Prime Minister Sherif Ismail during a Saturday meeting<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

GE lands USD 575 mn contract to supply Egypt with 100 locomotives: General Electric signed a USD 575 mn agreement with the Egyptian Railway Authority on Saturday that will see it deliver 100 locomotives to the country, according to a cabinet statement. The locomotives are part of a plan to have \u201c25 mn tonnes of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-646534","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"0c721709-cfe2-405d-89d7-e73ddeecd532","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[646528],"teaser":"","voice_url":""},"yoast_head":"\nGE lands USD 575 mn contract to supply Egypt with 100 locomotives - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/18\/ge-lands-usd-575-mn-contract-to-supply-egypt-with-100-locomotives\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GE lands USD 575 mn contract to supply Egypt with 100 locomotives\" \/>\n<meta property=\"og:description\" content=\"GE lands USD 575 mn contract to supply Egypt with 100 locomotives: General Electric signed a USD 575 mn agreement with the Egyptian Railway Authority on Saturday that will see it deliver 100 locomotives to the country, according to a cabinet statement. 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That\u2019s up from 35% under similar previous contracts, Investment and International Cooperation Minister Sahar Nasr said in a statement pdf). Judging from chatter on last night\u2019s\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634000,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/02\/ge-to-start-work-on-upgrading-old-locomotives-in-a-month\/","url_meta":{"origin":646534,"position":1},"title":"GE to start work on upgrading old locomotives in a month","author":"enterpriseam admin","date":"2 January 2018","format":false,"excerpt":"General Electric will start work on refurbishing 81 old locomotives in a month, a source at the Egyptian National Railway (ENR) tells Al Borsa. 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The delivery is part of a USD 575 mn agreement to supply 100 new locomotives and refurbish another 81. The US company will build\u2026","rel":"","context":"In "Automotive + Transportation"","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570501,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/02\/egypt-receives-second-batch-of-general-electric-locomotives\/","url_meta":{"origin":646534,"position":4},"title":"Egypt receives second batch of General Electric locomotives","author":"enterpriseam admin","date":"2 April 2020","format":false,"excerpt":"General Electric delivered the second batch of 20 railway locomotives purchased under an agreement signed in 2017, according to a cabinet statement. Under the agreement, GE is financing and supplying 100 new locomotives and refurbishing 81 others at a cost of USD 575 mn, but Transport Minister Kamel El Wazir\u2026","rel":"","context":"In "Automotive + Transportation"","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":646707,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/21\/ebrd-eur-290-mn-funding-to-egypt-not-related-to-ge-agreement\/","url_meta":{"origin":646534,"position":5},"title":"EBRD EUR 290 mn funding to Egypt not related to GE agreement","author":"enterpriseam admin","date":"21 June 2017","format":false,"excerpt":"CLARIFICATION- The EBRD\u2019s EUR 290 mn investment in Egypt to finance the Egyptian National Railway\u2019s fleet upgrade announced on Monday is separate from the USD 575 mn supply-and-maintenance contract the Investment and International Cooperation signed with General Electric on Saturday for the supply of 100 locomotives. 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