General Electric (GE) has signed on Sunday an agreement worth of $US 575 million with Ministry of Transportation and Egyptian National Railways (ENR) to transform rail infrastructure in Egypt. The agreement also grants a 15-year technical support for GE locomotives in ENR’s new and current fleet, technical training aimed at improving local capabilities in addition to technical skills for more than 275 ENR engineers and employees in region. The signing of the agreement was attended by Egypt’s Prime Minister Sherif Ismail, Minister of Investment & International Cooperation in Egypt Sahar Nasr, Minister of Transportation in Egypt Hesham Arafat, Chairman of ENR Medhat Shousha, US Ambassador Robert Beecroft, and Vice Chairman of GE John Rice. Rice stressed on the significance of the agreement highlighting the importance of carrying sustainable infrastructure. “What is exciting about this partnership is its truly holistic nature. We are working with the MoT and ENR on the entire process – from ensuring a competitive financing solution with partners to the manufacture and technical support for the locomotives, and the training and development of engineers. This is what it takes to be a true partner, engaging at all levels to offer…
General Electric Signs Agreement to Develop Railway Infrastructure in Egypt
June 19, 2017
