Transport Min, EBRD Officials Probe Work ProgressSource: www.export-egypt.com 12/7/2020, Location: Africa |
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Transport Minister Kamel el Wazir discussed with the European Bank for Reconstruction and Development's (EBRD) Managing Director for southern and eastern Mediterranean (SEMED) region Heike Harmgart the work progress in a number of joint underway projects.
They also discussed, via video conference, future cooperation in the domains of railways, Metro, maritime transport alongside the dry ports. The EBRD bankrolls the purchase of six new passenger trains at a cots of Euros 226 million under a deal with the Spanish train manufacturer Talgo, the first of which is set to be received in March. The two sides tackled importing 100 railway locomotives at a value of Euros 290 million along with the latest updates regarding securing a fund worth Euros 65 million for the project of metro tickets gates. The bank showed interest in cooperation with the transport ministry in maritime transport, specially in the Damiette port projects. The minister highlighted the promising investment opportunities of the country's maritime transport sector in light of the significance attached by President Abdel Fattah El Sisi to this vital domain. The bank officials hailed Egypt's business climate, the participation of the private sector in the transport sector as well as the importance attached to eco-friendly railway projects. They asserted that EBRD will continue supporting a number of other projects in the transport domain amid of its current development leap. |
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