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FINANCIAL NEWS
Egypt to sell shares to finance a high-speed rail
26 Oct 2013
(MENAFN) The Egyptian government is studying selling shares to the public to finance a high-speed passenger rail project extending up the Nile valley, The Peninsula Qatar said.
The railway, to be 800 kilometers long, is planned to run from Alexandria on the coast to Cairo and then to the tourist centre of Luxor in the south.
Egypt is looking for budgetary support from Saudi Arabia, Kuwait and the United Arab Emirates in addition to the $12bn pledged.
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