Etihad Rail launches construction of line to Saudi border
Hyundai-Rotem ships first train for Cairo metro Line 3 extension
Malaysia and Singapore suspend construction of high-speed rail line
Dubai firm invests €100 million in world’s longest undersea rail tunnel
Joint venture awarded €1.36bn Abidjan metro contact
EIB to help fund Egyptian rail projects
Etihad Rail heads northeast as Package D awarded
Alstom Entry into Commercial Service of Cairo Metro Line 3 – Phase 4
Bombardier Wins Cairo Monorail Order
Israel Railways reports net loss for first half of year
The €1bn multilateral agreement to finance Egyptian National Railways’ purchase of 1 300 Transmashholding coaches over five years has come into force, the Russian supplier announced on April 21.
The chair of the ENR board has received the official loan authorisation notice from the Hungarian ambassador, marking the final approval of the financing which is being provided by the Hungarian Export-Import Bank and Russia’s Roseximbank with insurance provided by national export-import agencies MEHIB of Hungary and EXIAR of Russia.
The project to supply the coaches under an order placed in September 2018 ‘is among our top priorities’, said TMH CEO Kirill Lipa. ‘Not only does it complement our expertise and ambitions, it contributes to the bilateral relations of Russia with Egypt and Hungary, helps expand Russian businesses’ international presence, and it also contributes to the development of the Russian transport industry.’
Russian Export Centre CEO Veronika Nikishina said ‘despite the obstacles posed by the coronavirus pandemic, all involved did everything possible to bring the contract into effect. The contract is an illustration of the demand for Russian technology abroad. The unique financing solution, prepared by REC Group in partnership with our Hungarian colleagues, could not be matched by the competition from China, Italy, India, Spain and Romania.’
This article first appeared on www.railwaygazette.com
About this website
Railpage version 3.10.0.0037
All logos and trademarks in this site are property of their respective owner. The comments are property of their posters, all the rest is © 2003-2020 Interactive Omnimedia Pty Ltd.
You can syndicate our news using one of the RSS feeds.