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TRANSMASHHOLDINGHUNGARY SIGNS EUR 1BN CONTRACT WITH EGYPT RAIL

Transmashholding-Hungary, a RussianHungarian consortium, has signed a contract worth more than 1 billion euros on the delivery of 1,300 passenger carriages to Egyptian National Railways (ENR), the Russian rolling stock company said. It won the five-year contract in a tender called in 2017, beating bids by companies from China, Italy, India and Romania. The Hungarian member of the consortium will be a manufacturing and financial partner in the project, Transmashholding said. Half of the awarded quantity is expected to be manufactured at the Hungarian base of Dunakeszi Járműjavitó Kft, it added. The project is supported by the governments of Egypt, Hungary and Russia, Transmashholding said.