EGYPT RAILWAY DEAL
Middle East and Africa a lure for General Electric
Dubai — General Electric is looking at opportunities to invest in transportation in the Middle East and Africa after signing a $575m railway deal in Egypt and expects growth in all sectors there. The company is interested in railway opportunities in Turkey and Algeria as well as the next phase of Egypt’s transport expansion, GE vice-chairman John Rice said. GE has tenders under discussion in several countries. It signed a letter of intent with Egypt on Saturday to supply 100 Light Evolution Series locomotives to be used for either passengers or freight, making it GE’s biggest deal with the Egyptian National Railways. "Demand for infrastructure continues unabated, the region is shifting to renewables, which is becoming more and more important, and healthcare is significant," said Rice, who is also president and CE of GE Global Growth Organisation. "We see tremendous opportunities for growth and we do not expect that to change."
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