Egypt raises $1.13bln to acquire 1,300 railcars
Monday, 27 April 2020 14:34
The Board Chairman of Egyptian National Railways (ENR) has received an official loan authorization from the Hungarian ambassador to Egypt, Railway News reports. This is the final step in the approval process for the $1.13 billion financing for the purchase of 1,300 new railcars.
Under the agreement signed in December 2019, the financing is backed by a joint loan from the Export-Import Banks (Eximbank) of Hungary and Russia, while the national import-export agencies of the two countries (MEHIB and EXIAR) will provide insurance coverage.
Transmashholding (TMH), Russia's leading manufacturer of railway equipment, is responsible for manufacturing and export. The order consists of 800 air-conditioned cars and 500 cars with dynamic ventilation systems.
Initially, the first deliveries were expected in March and 180 new railcars expected to be commissioned by June 2020.
Romuald Ngueyap
Additional Info
- communiques: Non
- couleur: N/A
Live News
-
IMF appoints Mauritania’s Zeidane to head Africa Department
18:56
-
BCEAO sets June 30 deadline for operators to join instant payment platform
18:52
-
Mauritania’s Zeine Zeidane appointed director of IMF Africa Department
18:47
-
Cameroon higher education group plans microfinance bank for student startups
18:34
-
Internet Freedom in Africa Remains Uneven in 2026 Despite Rising Access
18:30
-
Cameroon Delivers Tractors to Agropoles to Scale Production and Agro-Processing
18:28
-
Togo receives CFA1.6B Chinese rice donation to support food security
15:01
-
Africa’s $35bn sports tourism opportunity: growth accelerates alongside traditional travel sectors
14:37
-
Uganda: UN Women, Equity Bank launch programme for women entrepreneurs in underserved communities
14:33
-
Chevron Approves Investment in Equatorial Guinea’s Aseng Gas Project
13:36
A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...
Efforts to reinforce health systems are gaining pace across Africa, with this week’s developments fo...
Coca-Cola will invest $1.03 billion in South Africa by 2030 to expand capacity and distributi...
Operator explores renewable energy partnership with Italy’s Ascot Energy Move aims to stabilize p...
ECOWAS and IMF sign cooperation framework to strengthen policy alignment West Africa’s grow...
Mauritanian Zeine Zeidane has been appointed director of the IMF’s Africa Department. A former prime minister and an IMF official for more than a decade,...
Africa’s sports economy could expand from $12bn to $30-35bn over the next decade Tourism contributes up to 8% of GDP across the continent,...
A two-year partnership will support women entrepreneurs with finance and training The initiative targets underserved and refugee-hosting...
Chevron has taken a final investment decision on the Aseng Gas Monetisation project. The project targets 550 billion cubic feet of gas with an...
The Bijagos Archipelago, located off the coast of Guinea-Bissau, stands as one of West Africa’s most extraordinary island systems. Made up of around forty...
RFI confirmed the end of “Couleurs Tropicales” following Claudy Siar’s departure after 31 years. The move follows a series of high-profile exits...