NERIC to secure EGP 3B loan to set up railcar manufacturing factory

Updated 8/24/2023 8:57:00 AM
NERIC to secure EGP 3B loan to set up railcar manufacturing factory

Arab Finance: The National Egyptian Railway Industries Company (NERIC) will secure an EGP 3 billion loan from a banking consortium, led by the National Bank of Egypt (NBE), two sources familiar with the matter told Asharq Business.

The loan will be dedicated to partially finance the investment cost of building and operating a factory for manufacturing electric railcars and locomotives, one of the sources unveiled.

The repayment term of the loan could reach up to 10 years, the source noted.

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