News Column

Egypt : EGYPT to get 126m investment from EBRD for railway system

May 26, 2014

The European Bank for Reconstruction and Development (EBRD) will allocate 126m investment towards modernization of Egypt s railway system.

The investment will help to advance services journeys for millions of passengers on the North African country s busy trains. The loan will assist fund the acquirer of new rolling stock that will run on the line between Cairo and Alexandria; with the improvements suppose to boost safety levels and provide a more reliable and faster passenger service.

According to the EBRD, the advancement will boost safety levels and deliver a more reliable and faster passenger service; with the extra carriages supposed to minimize overcrowding on trains; as well as help to reduce road congestion by attracting more people to the railways.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters