A handout picture released by the Egyptian Presidency shows Egyptian President Abdel Fattah El-Sisi (R) shaking hands with Hungarian Prime Minister Viktor Orban at the Presidential Palace in Cairo on June 1, 2016.
CAIRO - 26 Sept 2018: Hungarian Ambassador in Cairo Peter Kveck asserted the importance of inking the Hungarian-Russian consortium of a one-billion-euro contract to supply Egypt with 1,300 train carriages.
In statements to MENA, Kveck said termed the deal is the biggest one in the history of Egyptian-Hungarian economic ties.
Some of the components of the carriages will be manufactured locally, he said.
Eximbank of Hungary and that of Russia will ink a financial contract to fund the project, he said.
The project will contribute to modernizing the railway sector in Egypt and benefiting from the Hungarian-Russian expertise in the field of manufacturing railways, he said.
The deal is an important step for future cooperation between Egypt, Hungary and Russia, said the diplomat.