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Talgo secures financing for €280-million contract for construction and maintenance over 15 years of seven night trains in Egypt

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Talgo diferente

Posted By: The Corner 4th June 2024

Renta 4: According to press reports, the Egyptian House of Representatives has approved the financing for the project awarded to Talgo in 2022 for the construction of seven night trains, as well as their maintenance for 15 years.

The contract is worth €280 million, of which €200 million corresponds to the construction of the trains and the rest to maintenance work.

Assessment: We consider the news to be positive as the last pending step to start the project has been taken.

We reiterate our recommendation of OVERWEIGHT with a target price of €5.0/share.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.