CAIRO, Egypt signed on Saturday a US$575 million agreement with U.S. giant company General Electric (GE) to provide the country with 100 multi-use locomotives, the Egyptian investment minister said in a press conference.
“The agreement is considered one of the results of President Abdel-Fattah al-Sisi’s visit to the United States,” Investment and International Cooperation Minister Sahar Nasr told reporters, referring to the Egyptian president’s visit to Washington earlier in April at the invitation of his U.S. counterpart Donald Trump.
According to the deal, GE will also provide 15 years of technical support and spare parts for the new locomotives as well as 81 other present trains. It will also offer a training program for more than 275 Egyptian engineers and technicians from the railway authority.
The first shipment of 25 locomotives is expected to arrive in Egypt in 2018.
Over the past couple of years, GE worked with the Egyptian government in projects to support and upgrade the country’s power generation capacity.
Source: NAM NEWS NETWORK