Egypt rail company to get $10bn investment

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Wed, 2020-11-25 23:00

CAIRO: Egypt has established a National Company for Railway Industries under a deal signed with a group of private sector companies.  

The Egyptian Sovereign Fund and the Suez Canal Economic Zone authority announced the partnership as part of moves to localize the rail industry in Egypt.

Egypt’s Minister of Planning, Hala El-Saeed, said the private sector alliance includes Orascom Construction, Hassan Allam Holding, Connect Professional Services and Samcrete Investments.

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