Connect with us

Economy

Egypt, PRL sign train engines contracts worth $466.3M

Published

on

CAIRO – 16 November 2019: The Egyptian Railway Authority (ERA) signed with PRL (Progress Rail Automotives) a number of contracts worth $466.3 million after a meeting with President Abdel Fatah al-Sisi that took place last week.

The American company will supply 50 train engines over 22 months, carry out long-term maintenance for 41 engines by June 30, and upgrade 50 others within 30 months since the conclusion of the deal. The company will also provide maintenance services and spare parts for those 141 train engines for 15 years. The value of contracts will be secured through soft loans, except for $27 million that will be paid by ERA’s treasury.

In July, ERA endorsed the technical specifications of two passenger railcars to be supplied by Transmashholding in September. Those are part of a contract to supply 1,300 railcars. One of the railcars will be tested in Hungary, so it will be granted the safety certification by the European Railway Agency. The other will be tested in Egypt. Afterwards, the first batch of railcars in the contract will be delivered in accordance with the timeline set by both parties.

The contract states that 650 railcars will be supplied from Hungary, 500 will be delivered by Russia, and 150 will be manufactured by Egypt under the supervision of Transmashholding. An Egyptian locomotive factory will be established as part of a plan to localize the locomotive industry in Egypt and transfer the know-how to workers, technicians, and engineers in the sector. The factory will produce the 150 railcars and also provide maintenance services.

The representatives of ERA and Transmashholding agreed to hold further visits and meetings to study the possibility of cooperation in rail infrastructure, mobile rail, workshops, new lines, and maintenance of existing railcars.

In the same month, an official source told Egypt Today that ERA needs 12 rail test machines to detect and repair defects in railroads revealing that contracts to purchase eight of those are being finalized.

Also Read: Meet Mariatheresa S. Kadushi, Founder of M-afya, A Mobile App Providing Health Information In Native Languages In Africa

ERA will receive four rail test machines worth €8.5 million by the end of 2020 supplied by an Austrian company with which a contract was signed a few months ago. The machines will enable the authority to better diagnose defects in the railroads which would increase the safety, and inhibit derailment accidents.

Egypt Today

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

France-Africa Summit secretary general praises Egypt’s experience in infrastructure

Published

on

By

Investment Minister Sahar Nasr meets with Secretary General of France-Africa Summit 2020 Stephanie Rivoal Reminisces- press photo

CAIRO – 8 November 2019: Ambassador Stephanie Rivoal Reminisces, the Secretary General of France-Africa Summit 2020, has hailed Egypt’s experience in the infrastructure field mainly with regard to the the sustainable and smart cities as well as digitization which she said offers investment opportunities to the private sector.

During her meeting with Investment Minister Sahar Nasr, the French diplomat added that France prioritizes consolidating strategic relations with the African countries, topped by Egypt, the current president of the African Union.

The meeting is held on Friday as part of Reminisces’s current visit to Egypt to hold talks with the government on preparations for the anticipated summit, slated for June, 2020. This year’s summit will focus on the sustainable cities.

Several heads of state and government will address the summit and meetings among businessmen from all over the African continents will be held as part of the summit’s activities, Reminisces said.

Also Read: Meet Mariatheresa S. Kadushi, Founder of M-afya, A Mobile App Providing Health Information In Native Languages In Africa

About 1,000 investors representing major, small and medium sized- businesses have been invited to the summit, Reminisces added.

Meanwhile, Nasr asserted Egypt’s keenness on developing cooperation with France at economic, development and investment levels.

She hailed successes achieved through the French investments in Egypt which she said hit 5.2 billion dollars with 160 French companies operating in the country.

Egypt Today

Continue Reading

Economy

Egypt urges World Bank, IMF to support regional integrity in Africa

Published

on

By

CAIRO – 18 October 2019: Minister of Investment and International Cooperation Sahar Nasr called on the World Bank and IMF to boost their support to Egypt in achieving regional integrity and intra-trade in Africa, a press release on Friday read.

Addressing the Intergovernmental Group of 24 on International Monetary Affairs and Development in Washington, Nasr called on the WB and International Monetary Fund to expand investments in the region.

The minister said that Egypt’s vision to face the slowdown in global economic growth and trade tensions is to achieve more economic integration and continue to take the path of reform to make our economies more competitive and attractive for investment, to achieve the aspirations of the world countries in growth and development.

Nasr explained that the Egyptian government has implemented a comprehensive economic and social reform program to promote sustainable growth, alleviate poverty, create good jobs, enable the private sector to promote growth, and provide opportunities for all sectors of society to participate in the economy, especially women and young entrepreneurs.

The Minister added that President Abdel Fattah al-Sisi, as the chairman of the African Union, has set the achievement of regional economic integration as a top priority.

n1

Nasr also discussed Wednesday with the World Bank the provision of $500 million for the pollution control and solid waste management project in Egypt.

Nasr added in a statement that Egypt is also discussing with the World Bank raising the level of partnership to support the health and education sectors in Egypt.

For his part, World Bank Vice President for the Middle East and North Africa Farid Belhadj affirmed that Egypt is a very important country for the bank’s fields of work.

Also Read Prioritizing A Traditionally Underserved Somaliland Population Over Profit – Adan Abbey

“Therefore the World Bank is keen to contribute effectively to the efforts exerted to achieve development in Egypt, especially in the field of infrastructure, in light of the economic and legislative reform that contributed to improving the investment climate in Egypt,”Belhadj explained.

Egypt Today

Continue Reading

Economy

African Development Bank and partners launch pilot Cities Diagnostics tool in five cities

Published

on

By

The tool includes key environmental and urban sustainability indicators as well as disaster risk and vulnerability, and urban footprint growth.

ABIDJAN, Ivory Coast, October 7, 2019 – “The urban opportunities far outweigh the challenges,” said Prof. Davis G. Mwamfupe, the Mayor of Dodoma, Tanzania, during his message to the Cities Leadership workshop, launching the City Diagnostics for five pilot cities in Africa, held on the 25th and 26th September 2019 in Abidjan.

Five cities were chosen for the pilot phase of the Cities Diagnostics for 2019 -2020: Antananarivo (Madagascar), Bizerte (Tunisia), Conakry (Republic of Guinea), Dodoma (Tanzania) and Libreville (Gabon) and were represented by their respective authorities.

The African Development Bank, the Urban and Municipal Development Fund (UMDF) and the Korea Africa-Economic Cooperation (KOAFEC) organized the workshop to review the cities diagnostic methodologies with city managers and international urban development experts. Amadou Oumarou, Director of the Bank’s Infrastructure and Urban Development Department said, “The new City Diagnostics tool of the Bank will enable city managers and development partners to have a clear understanding of the situation in all the various sub-sectors of the city and allow us to prioritise our work”.

The diagnostic tool includes key environmental and urban sustainability indicators; two baseline studies covering disaster risk and vulnerability, and urban footprint growth. It also includes a public opinion survey covering accessibility and quality of municipal services for water, sanitation, electricity. Drainage, solid waste management, and other measures of quality of life in cities are also included. The tool can measure and assess inclusiveness and resilience parameters, strategies, municipal resource mobilization, investments, and public accounts administration.

The Mayor of Bizerte, Dr. Ben Amara Kamel stressed the challenge of limited municipal budget resources for capital infrastructure and services investments as well the difficulty of recruiting qualified municipal staff to cities, especially given Bizerte’s ambitious projects such as 100% clean energy by 2030. Participants from Conakry and Libreville also mentioned problems of city governance, the low level of municipal tax collection, poor sanitation, and solid waste management.

Also Read Prioritizing A Traditionally Underserved Somaliland Population Over Profit – Adan Abbey

The five pilot cities exchanged experiences at a panel headed by Ellis Juan, Senior Advisor to the Bank’s UMDF and former head of the Inter-American Development Bank emerging and sustainable cities program (ESC) . Juan highlighted some of the key lessons learned in Latin America which included the following:

  • An integrated approach to city planning and management yields greater impact;
  • Climate change should be integrated into city planning and management;
  • Making cities for the people, or people-oriented cities;
  • Order in the fiscal accounts, increased digitalization of city management and strong governance and transparency make for a credible partner;
  • Efficient management of solid waste, sewerage and drainage systems, and water resources will preserve cities’ environmental assets for future generations while improving quality of life;
  • Integrating mobility into urban planning and investing in quality public transportation services will drive productivity and create citizen-friendly cities;

The City Diagnostics program is fully funded by the UMDF, which supports African cities and municipalities to improve their resilience and manage urban growth and development better through planning, governance, and efficient public services as well as improving the quality of life in urban environments in Africa.

African Development Bank Group (AfDB)

 

Continue Reading

Subscribe via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 1,834 other subscribers

Ads

Most Viewed