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The Egyptian National Railways (ENR) and Lenza Egypt for Projects Engineering Equipment will cooperate to build a new join-stock company to produce mechanical spare parts, according to an official statement on Wednesday.
The Egyptian cabinet has approved the establishment of the new company, which will be named the Egyptian Company for Engineering Industries and Development (ECEID).
The new company will supply mechanical spare parts to the Egyptian transport sector in the local currency, as it will export to various markets, especially Africa, to secure foreign currency.
