Aviation, rail, and trade updates from Iran, Egypt and Saudi

AVIATION-

Iran is making its own jet engine turbine blades: Iranian scientists have succeeded in producing high-tech jet engine blades — a main component that forms the turbine section of aircraft engines — for a manufacturing cost of USD 8k, Mapna Aero Head of Design & Production Mani Rezvani told Tasnim. The development should allow Iran to put a fleet of McDonnell Douglas planes back into service after being mothballed due to sanctions restricting access to jet engine blades. The first JT8D engine fitted with Iranian blades will be installed into a Boeing MD passenger plane on 20 June, the outlet said.

RAIL-

Egis to supervise Egyptian high-speed rail project: France-based engineering outfit Egis has inked a contract with the Egyptian National Authority for Tunnels (NAT) to supervise two new electric high-speed rail lines in the country, according to a press release. The project — which is being implemented in collaboration with Systra — will be part of a 2k km rail network that will transport passengers and freight across the country.

TRADE-

Saudi EXIM inks agreements for financing + ins. for non-oil exports: The Saudi Export-Import Bank (Saudi EXIM) has inked an agreement with Australian asset and commodity management Macquarie Group to provide credit facilities worth USD 500 mn over three years to enhance the group’s purchases of Saudi goods and services, SPA reports. The credit facility agreement looks to connect the Kingdom’s exports to 156 global markets and will support Saudi EXIM’s efforts to develop non-oil exports and enhance its global position in markets by providing financial services, guarantees, and export credit ins. Saudi Exim also inked an agreement with Allianz International Ins. Group for the provision of ins. solutions to reduce non-payment risks for imports and exports. Allianz will provide ins. solutions to facilitate the Saudi industrial sector’s access to global supply chains across 50 countries.