Arab Finance: The Egyptian cabinet has granted the golden license to the National Egyptian Railway Industries Company (NERIC) for the establishment and operation of its railway components manufacturing factory, according to a statement.
Under the cabinet’s decision, NERIC shall finalize the implementation of the project on August 31st, 2024.
The project’s total investments amount to up to EGP 3.575 billion, and is expected to hire around 500 employees.
The General Authority for Investment and Free Zones (GAFI) will be in charge of following up on the execution of the project as per the timetable agreed upon.