Spain to finance Egyptian railway development
The Spanish government has agreed to finance the development of Egypt’s railway system. Spanish company Alston will provide the Egypt with locomotives worth $50 million by the end of the month, reported Al-Alam Al-Yaum.
The Egyptian Ministry of Transport plans to increase the speed of its trains via electrical currents, which could enhance the network’s total speed by 80 percent. The Spanish government loaned Egypt $300 million for its railway in the past, of which $150 million was granted at low interest rates.
The Cairo metro, which eases the transportation problems of a city of 16 million people, was initially built in the 1980’s by the French-led consortium Interinfra, the Cairo Metro Company and the French engineering group SYSTRA. Egypt boasts approximately 5,000 kilometers of train tracks, of which 42 kilometers are electrified, connecting almost every town in the country. — (menareport.com)
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