Cairo – Mubasher: The Egyptian cabinet approved a draft presidential decree on a credit facility agreement worth EUR 1.016 billion, according to a statement on Thursday.
The agreement, signed between the Egyptian National Railways (ENR) on one side and Export-Import Bank Plc. (Eximbank) and State Specialized Russian Export- Import Bank on the other side, will finance the supply of 1,300 new railroad cars.
The first batch of railroad cars are scheduled to be delivered by March 2020.
The deal includes the supply of 800 air-conditioned passenger cars (500 third-class air-conditioned cars, a first-of-its-kind service in Egypt; 180 second-class air-conditioned cars; 90 first-class air-conditioned cars; and 30 air-conditioned buffet cars) as well as 500 third-class cars with dynamic ventilation system.
