EGYPT : CABINET APPROVES KOREAN FINANCE DEAL FOR UPGRADING LUXOR-HIGH DAM RAILWAYS

The Cabinet approved during its weekly meeting under Prime Minister Moustafa Madbouli a draft presidential decree on a financing agreement between Egypt – represented in the Ministry of Transport – and the Export-Import Bank of Korea at 1.518 euros to contribute to a project for financing a Luxor-High Dam railways at 224 kilometers.

The project aims at updating the current signaling system to replace the current mechanic system by electronic one in order to ensure highest safety standards.
The project will help follow up the trains’ courses via a computer monitor in order to track trains and level crossings’ operation.

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