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Factory set up a total investment of $16mln
The Egyptian Company for Self-Maintenance for Roads and Airport (ECSM), a public sector company under the Ministry of Transport, announced on Monday the launch of its 500 million Egyptian pound ($16 million) concrete ties manufacturing factory for the country’s high-speed electric train network.
The factory, spread over an area of 40,000 square metres in the Nile Corniche Al Maasara area, has a production capacity of about 550,000 ties per annum, ECSM said in a press statement.
It said the factory will use locally sourced raw materials to produce the high-speed rail ties and thus conserve Egypt’s foreign exchange reserves.
(1 US dollar = 30.91 Egyptian pounds) |
