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Wednesday, 26 October 2022

Egypt’s latest electric train project + EBRD invests in Moroccan green infrastructure

Egypt signs PPP agreement for electric train project: The National Authority for Tunnels, El Didi Group and Gama Construction signed an MoU for an electric train project under a public-private partnership framework at the Egypt Economic Conference, cabinet announced on Monday. The agreement will see the establishment of a joint venture to build, operate, maintain, and manage the 250 km cargo-and-passengers railway project connecting key ports in the country.

Who will do what? Civil works, like bridges, stations, and fences, will be implemented by undisclosed “major national companies” while German company Siemens will implement signals, communications and electric power systems, and develop a plan to localize the railway industry in Egypt. No financial details are disclosed as of yet.

Egypt has been pivoting to electric rail lines: The World Bank approved a USD 400 mn financing agreement to boost the performance of the country’s transport and logistics sectors earlier this month. The EBRD signed off on a EUR 40 mn loan to partially finance work on the Robeiky-10th of Ramadan-Belbeis freight and passenger railway line. And of course, there’s Egypt’s USD 4.5 bn monorail, which is set for partial inauguration ahead of COP27, and implemented by a consortium of Alstom, Orascom Construction and Arab Contractors.

And is on a clear path towards more private sector involvement: Amendments to the country’s Railway Act in 2018 allowed private players to participate in developing, managing, and operating railway projects.


EBRD invests in Moroccan bond for green infrastructure projects: The European Bank for Reconstruction and Development (EBRD) invested MAD 400 mn (USD 36.5 mn) in a MAD 1 bn (USD 91.3 mn) municipal bond that focuses on green infrastructure projects in Morocco, according to a statement. The bond was issued by Morocco’s Agadir to support the city’s urban development program.

And formally inducts Agadir into the EBRD Green Cities programme: The city of Agadir joined an EBRD programme that stipulates member cities to create a green city action plan (GCAP), which would “identify its key environmental challenges and […] investments and policy actions required to address them,” according to the statement. Through the program, the EBRD will provide the city with a technical cooperation package for the development of Agadir’s GCAP, the statement notes.

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