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Signs MoU comprising a rail system with a network of around 1000 kms
The National Authority for Tunnels and Siemens Mobility have signed a Memorandum of Understanding (MoU) - together with the local companies Orascom Construction S.A.E. and The Arab Contractors (Osman Ahmed Osman & Co.) - to design, install and commission Egypt’s first ever high-speed rail transportation system.
Additionally, Siemens Mobility will be providing maintenance services. The agreement comprises a rail system with a network of 1000 kms, with the first being a 460 kms high-speed line. The order value of this initial high-speed line is around $3 billion.
The MoU was signed by Essam Waly, Chairman of Egypt’s National Authority for Tunnels, and Michael Peter, CEO Siemens Mobility, in a meeting on January 14, 2021 in Cairo.
Joe Kaeser, the President and Chief Executive Officer of Siemens AG said: "After the highly successful energy Mega project, we are now keen to repeat this visionary spirit in the mobility sector together with our partners."
"The system will significantly enhance passenger experience and reduce travel time for millions of Egyptian people,” said Michael Peter, CEO Siemens Mobility.
The first 460 km long high-speed line will connect the vastly developing cities of El-Alamein on the Mediterranean Sea to Ain Sokhna on the Red Sea, while also passing through the New Administrative Capital.
The line will also be operable for freight transport purposes which will further foster economic growth in the region.
Siemens Mobility is the global leader in high-speed rail operations and is one of the leading companies in the Egyptian mobility market since the 1960s.