Through one of the government companies, Egypt is seeking to seize railway projects in Iraq, which seeks to modernize and develop the current railway network within allocations of $100 billion to spend on infrastructure over a period of 3 years.
The Holding Company for Road, Bridge and Land Transport Projects, affiliated with the Egyptian Ministry of Transport, is conducting negotiations with the Iraqi government to establish projects in the railway sector, with an estimated value of about half a billion dollars, according to two sources who spoke to Al-Sharq.
One of the sources indicated that the company has officially submitted its technical and financial offers to compete for part of a package of projects announced by “Iraq” during the recent period, in the railway sector, and it is expected that the final position of these discussions will appear next March.
At the end of last month, Iraq signed a consulting contract with the Italian company BTP, to provide consulting services regarding the first phase of the project to modernize and develop the current railway network.
The Egyptian company, which was established sixty years ago, is affiliated with 4 companies working in the field of road and bridge construction, airports, railways, and construction.
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