Govt approves 940,000-euro grant to upgrade rail freight transport

The cabinet approved on Wednesday 18/9/2019 a 940,000-euro grant offered by the the European Bank for Reconstruction and Development to upgrade upgrade rail freight transport.

The approval came during the weekly cabinet meeting under Mostafa Madbouli.

Under the grant, new consultants will be appointed for the Railway Authority to turn the current rail freight unit to an independent company that is in close cooperation with the rest of the authority’s units.

Also, the cabinet agreed to a draft resolution as regards a 555,343-euro grant between the Investment Ministry and the European Bank to renew the locomotives of the Railway Authority.

The agreement involves the purchase ofg 100 locomotives.

The cabinet Okayed the fourth amendment to a 4-million-dollar grant agreement between Egypt and the US to boost scientific and technological capabilities and increase the scope of scientific cooperation for peaceful purposes.

Source: State Information Service Egypt