Egypt mulls localization of Railway industry with Hungary’s Ganz-MAVAG
Updated 7/30/2023 1:50:00 PM
Arab Finance: Egypt is probing plans to localize the railway industry in cooperation with Hungary’s Ganz-MaVAG, Ministry of Transport stated on July 28th.
During his visit to Hungary, transport minister Kamel Al-Wazir met the head of the Hungarian company to follow up on the signed contract for supplying 1,350 railcars to the Egyptian National Railways (ENR) from Hungary.
The two sides also discussed possible joint manufacturing of railcars between Ganz-MÁVAG and National Egyptian Railway Industries Company (NERIC), particularly in the localization of the railway industry at a rate of 90%.
This step will pave the way for Egypt to turn into a hub for railcar manufacturing in the Middle East and Africa.
It is worth noting that the deal is considered the largest deal in ENR’s history; it consists of 1,350 new railcars to be delivered from Hungary, 850 railcars of which are air-conditioned
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