The minister of transport also presented other investment opportunities.
President Abdel Fattah El Sisi issued a decree endorsing a loan agreement signed between the Egyptian government and the European Bank for Reconstruction and Development (EBRD) for the procurement of 100 new locomotives.
President Sisi ordered to give priority to maintain the standards of safety and security and to guarantee a good comprehensive service for the citizens.
The Cabinet approved on Wednesday, Sept. 18 a €940,000 grant offered by the European Bank for Reconstruction and Development to upgrade rail freight transport.
The Egyptian National Railway Authority signed a memorandum of understanding Monday with the US-based Progress Rail Caterpillar Company to modernize 91 locomotives.