The German Siemens Group said yesterday that Egypt has signed a contract with its railway industries unit and its partners in a consortium to build two railway lines for high-speed trains with a length of 2,000. kilometer.
The agreement between Egypt's National Authority for Tunnels and a coalition of Siemens, Orascom Construction and the Arab Contractors will create the sixth largest high-speed rail system in the world, the company added.
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Siemens CEO Roland Bosch said in a statement it was the largest order in Siemens history.
Egyptian President Abdel Fattah El-Sisi affirmed that the new electric train line will represent a great addition to the transportation network system in Egypt, whether for the movement of individuals or the facilitation of trade, given that it will link the coasts of the Red and Mediterranean Seas. Through the new administrative capital and a number of other major cities, which will enhance development efforts in Egypt and open promising future prospects for developing cooperation with Siemens in modern transportation systems.
The project is part of Egypt's extensive investment in transportation infrastructure over the past few years.
Once completed, the high-speed train network in Egypt will consist of three railway lines, one of which connects its coasts on the Red Sea and the Mediterranean, and the two lines announced today.< /p>
Siemens added that its subsidiary's stake in the project amounts to 8.1 billion euros (equivalent to about 8.69 billion dollars), and includes an initial contract of 2.7 billion euros for the first line signed in 1st of September 2021.
