Arab Finance: Egyptian National Railways (ENR) is considering borrowing EGP 6 billion from a consortium of local banks led by the National Bank of Egypt (NBE) to carry on the implementation of a number of projects, two government officials told Asharq Business.
These projects include Cairo-Alexandria trade logistics railway line, which aims to accelerate the transfer of goods from Alexandria Port to 6th of October Dry Port and ease traffic congestion on this line, the sources noted.
The loan will be secured before the end of 2023 and will be repaid over 10 years, one source said.