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Russian-Hungarian Consortium Signs EUR 1 bn Contract with Egypt Rail

Transmashholding-Hungary, a Russian-Hungarian consortium, has signed a contract worth more than 1 billion euros on the delivery of 1,300 passenger carriages to Egyptian National Railways (ENR), Russian rolling stock company Transmashholding said.

Transmashholding-Hungary won the five-year contract in a tender called in 2017, beating bids by companies from China, Italy, India and Romania.

The Hungarian member of the consortium will be a manufacturing and financial partner in the project, Transmashholding said. Half of the awarded quantity is expected to be manufactured at the Hungarian base of Dunakeszi Járműjavító Kft, it added.

The project is supported by the governments of Egypt, Hungary and Russia, Transmashholding said.

“The parties positively look at the growth of international cooperation and are confident that further improvement of trade and industrial relationships will make a solid platform for even more ambitious projects in future,” it added.

via MTI
featured photo by railwaygazette.com