A Russian-Hungarian consortium has signed a €1 billion deal to deliver 1,300 passenger carriages to Egyptian National Railways (ENR).
Transmashholding-Hungary won the five-year contract in a tender first called in 2017, beating bids by companies from Italy, China, India, and Romania.
According to reports, the contract was signed on September 26th as part of ENR’s plans to renovate its old railway system by 2022 at a total cost of €2.6bn.
The Hungarian member of the consortium will be a manufacturing and financial partner in the project.
A large proportion of the manufacturing is due to take place at the Hungarian base of Dunakeszi Járműjavíto. The project is supported by the governments of Egypt, Hungary and Russia.