Egypt Signs €340 Mln Contract to Develop Cairo-Beni Suef Railway CorridorSource: www.export-egypt.com 9/4/2023, Location: Africa |
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Egyptian National Railways (ENR) signed a €340 million ($367.05 million) contract with the UAE's Orascom Construction and French electrical systems company Thales, to develop the Cairo-Beni Suef railway corridor.
According to the Egyptian Exchange statement on Sunday, the contract includes the development of a signalling system and tracks across approximately 125 km. The step is in line with Egypt's vision to continuously develop and modernize the railway system based on the latest global standards. The project also aims to modernize the electronic interlocking system at the stations along the Cairo-Beni Suef railway corridor to increase speed and enhance safety and efficiency. The contract is part of a $440 million programme approved by the World Bank in October 2021 to support Egypt's initiatives to enhance the safety and services of the country’s railways. In March 2023, the World Bank launched its Country Partnership Framework (CPF) for Egypt under which $7 billion in financing will be provided. |
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