BUSMAKERS NEWS * United Arab Emirates: Abu Dhabi / Egypt
* Abu Dhabi - Bus maker profits from Cairo’s traffic problems
Cairo,Egypt -The National, by Shereen El Gazzar -December 1, 2014: -- Cairo’s notorious traffic congestion is proving profitable for one Abu Dhabi-based bus maker... Hafilat Industries has won a US$40 million order to supply 300 buses to Cairo’s public transport authority. Meanwhile, another 300 buses will be supplied by the Egyptian distributor GB Auto... Traffic congestion in Cairo has become a serious problem for municipal planners and is hurting both the economy and quality of life for the city’s 20 million inhabitants... Wasted time spent stuck in traffic, unnecessary fuel consumption and reduced air quality have all been cited as factors that are bad for business in the sprawling city... The 600 buses will cover about 44.5 per cent of the transport authority’s needs... Egypt’s dwindling currency reserves and large fiscal deficit have necessitated large inflows of funds from Arabian Gulf donors. Direct aid to Egypt from the UAE, Kuwait and Saudi Arabia totalled $10.6 billion last year...
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