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Prime minister attends signing ceremony of ENR-GE agreement

Sunday 18-06-2017 - 04:27 PM
MENA
Prime minister attends
Cairo - Prime Minister Sherif Ismail on Saturday attended the signing ceremony of a $575 million agreement between the Egyptian National Railways (ENR) and General Electric (GE).
The agreement covers the supply of 100 multi-use locomotives for passenger and cargo trains, and a long-term maintenance of 15 years to provide spare parts and technical support for the new locomotives, as well as 81 other trains of the ENR fleet.
The agreement also includes the implement of a training program for more than 275 Egyptian engineers and technicians.
GE Vice Chairman John Rice, Minister of Investment and International Cooperation Sahar Nasr, Transport Minister Hesham Arafat, ENR chief Medhat Shosha, and US Ambassador in Cairo Robert Beecroft attended the ceremony.
Prime minister attends
Nasr said the agreement was reached following major negotiations made by the ministries of investment and transport with General Electric.
She added that the agreement maximizes the local Egyptian component and contributes to improving Egypt's real potential as an investment market, especially as it aims to work as closely as possible with international institutions to create investment opportunities on the partnership principle.
Arafat said the agreement will contribute to maximizing the ENR role in rail freight transport in light of the power of GE locomotives.
GE Vice Chairman John Rice said the company is keen to build on its strategic partnership with Egypt and work for the future by providing comprehensive solutions in a number of areas of cooperation.

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