By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
    HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
    March 21, 2023
    Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs
    Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs
    March 21, 2023
    SCZONE discusses cooperation with American-Hellenic Chamber of Commerce
    SCZONE discusses cooperation with American-Hellenic Chamber of Commerce
    March 21, 2023
    EFG Hermes concludes valU’s 4th issuance in a securitized bond worth EGP 856.5m
    EFG Hermes concludes valU’s 4th issuance in a securitized bond worth EGP 856.5m
    March 21, 2023
    Prime Minister meets officials of German Bosch Group
    Prime Minister meets officials of German Bosch Group
    March 21, 2023
  • Politics
    PoliticsShow More
    Shoukry confirms Egypt's full support to COP28 in UAE
    Shoukry confirms Egypt’s full support to COP28 in UAE
    March 21, 2023
    Egypt’s GAH, WHO discuss cooperation in health sector
    Egypt’s GAH, WHO discuss cooperation in health sector
    March 21, 2023
    Egypt, Turkey are not competitors in Libya: FM Cavusoglu 
    Egypt, Turkey are not competitors in Libya: FM Cavusoglu 
    March 21, 2023
    Chinese President Xi Jinping said on Tuesday that China is ready to expand cooperation with Russia during his meeting with Russian Prime Minister Mikhail Mishustin.
    Xi says China to expand cooperation with Russia in trade, investment, supply chain, mega projects, energy, hi-tech
    March 21, 2023
    Egypt’s Irrigation Minister heads to New York for UN water meeting 
    Egypt’s Irrigation Minister heads to New York for UN water meeting 
    March 21, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Egypt, AfDB sign €145m agreement to improve railway system
Share
Notification
Latest News
HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
Business
Shoukry confirms Egypt's full support to COP28 in UAE
Shoukry confirms Egypt’s full support to COP28 in UAE
Politics Egypt
Egypt’s GAH, WHO discuss cooperation in health sector
Egypt’s GAH, WHO discuss cooperation in health sector
Politics Egypt
American University in Cairo (AUC) launches Excellence Scholarship Program to support outstanding students
AUC launches Excellence Scholarship Program to support outstanding students
Society in depth
Quantum mechanics- how the future might influence the past
Quantum mechanics: how the future might influence the past
Science
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Egypt, AfDB sign €145m agreement to improve railway system
Business

Egypt, AfDB sign €145m agreement to improve railway system

Nehal Samir
Last updated: 2021/05/23 at 6:42 PM
By Nehal Samir 3 Min Read
Share
Egypt, AfDB sign €145m agreement to improve railway system
SHARE

Egypt’s Minister of International Cooperation Rania Al-Mashat has signed a development financing agreement worth €145m with the African Development Bank (AfDB), aimed at improving the efficiency and safety of the country’s railway system. 

Also present at the agreement’s signing was Minister of Transportation, Kamel El-Wazir.

The agreement will see the Egyptian National Railway Authority’s (ENRA) main Alexandria, Cairo, Assiut, Naga Hammadi lines and Benha-Port Said line extended. 

A total of 953 km of these railway lines will be controlled by the European Train Control System (ETCS-L1), which will manage the course of the cars. The agreement also provides an additional 100 wagons using the ETCS. 

Minister Al-Mashat applauded the AfDB’s support in providing financing for the development of Egypt’s railway signals project, which serves as the bank’s first contribution in the country’s transportation sector. 

The secured funds will enhance the development efforts in the transportation sector, by pushing forward on Egypt’s development vision and the UN’s sustainable development goals (SDGs), namely: SDG 8: Decent Work and Economic Growth; SDG 9: Industry, Innovation and Infrastructure; and SDG 11: Sustainable Cities and Communities.

Minister Al-Mashat said that, with a value of $5.13bn, the transport sector accounts for more than 20% of her ministry’s ongoing development cooperation portfolio. 

The development financing is secured through multilateral and bilateral development partnerships. It is directed towards many projects, such as: the development of the Cairo Metro lines; the implementation of road projects; and the modernisation of railways. 

The minister elaborated that her ministry’s role is not only aimed at securing development financing, but also encompasses follow-up on projects to ensure the desired results are achieved.  

For his part, El-Wazir said that the agreement comes as part of the political leadership’s directives to develop the existing railway network. This includes development of a signalling and communication system across various railway lines. 

He added that this system provides the possibility of automatically stopping trains without the driver’s intervention, in the event of any danger. This aims to prevent human error, while controlling the speed of the train, and recording data on its routes. 

The development agreement encompasses the instalment of the ETCS on old cars, with the project covering the provision of 260 wagons. Of these, 110 were supplied and are eligible to use the management system. 

The instalment of the ETCS will contribute to less dependence on humans, in order to increase the safety and security of railway lines. 

You Might Also Like

HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson

Cooperation between MSMEDA, JICA to boost competitiveness of MSMEs

SCZONE discusses cooperation with American-Hellenic Chamber of Commerce

EFG Hermes concludes valU’s 4th issuance in a securitized bond worth EGP 856.5m

Prime Minister meets officials of German Bosch Group

TAGGED: AfDB, railway
Share this Article
Facebook Twitter Email Print
Previous Article 253 Zionist settlers storm Al-Aqsa despite Gaza’s ceasefire agreement 253 Zionist settlers storm Al-Aqsa despite Gaza’s ceasefire agreement
Next Article CIB included in 2021 Bloomberg Gender-Equality Index CIB net income rises 20% to record EGP 2.87bn in Q1 2021
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
HDB allocates EGP 3.85bn to sustainable financing in 2022: Chairperson
Business
Shoukry confirms Egypt's full support to COP28 in UAE
Shoukry confirms Egypt’s full support to COP28 in UAE
Politics Egypt
Egypt’s GAH, WHO discuss cooperation in health sector
Egypt’s GAH, WHO discuss cooperation in health sector
Politics Egypt
American University in Cairo (AUC) launches Excellence Scholarship Program to support outstanding students
AUC launches Excellence Scholarship Program to support outstanding students
Society in depth
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?