Arab Finance: The Egyptian National Authority for Tunnels (NAT) has signed a 15-year agreement with the National Egyptian Railway Industries Company (NERIC) to manufacture 500 railcars, as per a statement.

The agreement also covers the maintenance and spare parts of the railcars.

Moreover, the authority has sealed a memorandum of understanding (MoU) with the Spain-based GTS to establish a signaling systems manufacturing factory.

The NAT has also inked an MoU with Skoda to boost cooperation in the field of managing and operating workshops for locomotives and railcars.

The signings came on the sidelines of the fifth Smart Transport, Logistics, Infrastructure, and Traffic Fair and Forum for the Middle East and Africa Region (TransMEA 2023).

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