National Investment Bank mulls EGP500 million financing for the Egypt National Railways
State-run National Investment Bank (NIB) is considering securing new financing worth EGP500 million (USD56.3 million) for the Egyptian National Railways (ENR), according to the bank’s board member Momtaz al-Saeed. He further said that the loan under study is set to finance the purchase of machinery and equipment needed by the ENR. NIB already approved similar funding for the railways authority over the past few months, which were disbursed over three tranches, the banking official added. The ENR has prepared an investment strategy worth EGP90 billion to restructure the country's railway sector, including an emergency plan worth EGP7.17 billion. (Amwal Alghad)
This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us and our partners to provide you with more relevant ads . Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. For more information about the cookies used on this site, see Privacy Policy.
Decide which cookies you want to allow.
Strictly Necessary
These cookies are essential in order to enable you to move around our website and use its features, such as accessing secure areas of our website. Without these cookies, any services on our Site you wish to access cannot be provided.
Analytical/performance cookies
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages.