Egypt to Establish National Railway Industries Company in SCZone With SWF Contribution

14/10/2020

Egypt's cabinet has approved the establishment of a national company for railway industries in the Suez Canal Economic Zone (SCZone), with the contribution of the Egyptian Sovereign Wealth Fund (SWF), to manufacture, repair, replace and renew railway carriages.

A government statement yesterday said that the establishment of the company will be through a contribution between the General Authority for Suez Canal Economic Zone, SWF and the private sector.

The Ministry of Transport will be responsible for the need analysis of all the mobile units, which include railway carriages, metro trains and express electric trains, until 2030, in addition to ascertaining the global price of the final products, the statement read.