"Minister of Investment" "General Electric CEO" discuss GE’s offer to develop Egyptian railways



Mon, 10 Apr 2017 - 03:18 GMT


Mon, 10 Apr 2017 - 03:18 GMT

Minister of Investment and International Cooperation Sahar Nasr - Archive

Minister of Investment and International Cooperation Sahar Nasr - Archive

CAIRO – 10 April 2017: Minister of Investment Sahar Nasr held talks with President and CEO for General Electric (GE) North East Africa Ayman Khattab on the offer made by GE to supply the Egyptian National Railways (ENR) with 100-200 train wagons.

According to the offer, 35 percent of the wagons are to be manufactured in Egypt, the ministry said in a statement on Monday.

The move comes in the light of GE’s keenness to increase their investments in Egypt, provide more job opportunities for youth, contribute to the nationwide development process and support the government’s target to boost economic growth and augment human capabilities.

The meeting, attended by Minister of Transport Hesham Arafat, touched on the outcome of President Abdel Fatah al-Sisi’s meeting with GE CEO Jeff Immelt during Sisi’s visit to the U.S. last week.

Nasr welcomed GE’s aim to increase its investments in Egypt, pointing out the strategic and economic ties binding Cairo and Washington.

Meanwhile, the GE CEO noted the role played by the company in upgrading Egypt’s transportation networks, particularly with regard to the transport of goods via railways; in a way that would cut transport costs, reduce traffic congestion and limit road accidents.

On April 1, President Sisi paid a five-day official visit to the U.S. in response to the invitation from President Donald Trump. The two presidents held joint talks at the White House on several issues of mutual concern.

Sisi also visited the U.S. Chamber of Commerce, where he met with representatives of major companies as well as prominent figures in the U.S.



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