Egyptian Chemicals and Fertilizers Export Council (CEC) agreement with Qalaa Holdings to establish a railway line in Kenya will participate in boosting Egyptian exports to Africa to US$5 billion in two years.
Speaking to Amwal Al Ghad Sunday, CEC chairman Khaled Abu El Makarem stated that the line aims to ease hurdles faced by Egyptian exporters during shipping their products to the African markets.
Qalaa Holdings, Egypt-based African leader in infrastructure and industry, and CEC have signed Saturday a memorandum of understanding to establish a railway line in Kenya.
The chairman made these remarks on the sidelines of the African international business forum kicked off in Egypt’s Sharm El-Sheikh on Saturday.
He added that Rift Valley Railways -Qalaa subsidiary that operate railways in Uganda and Kenya- is set to develop a 2,200-km railway line with low prices. Hence, the cost of cargo transport in Africa will be lowered by 30 percent, the official clarified.
