Siemens to Build $8,7 Billion High-Speed ​​Rail in Egypt

Siemens to Build a Billion-Dollar High-Speed ​​Railroad in Egypt
Siemens to Build $8,7 Billion High-Speed ​​Rail in Egypt

The German group Siemens announced on Saturday (May 28th) that Egypt has signed a contract with the rail industry unit and a joint consortium to build 2 long railway lines for high-speed trains.

Egypt's National Tunneling Authority (NAT), Siemens Mobility, Orascom Construction and a consortium of Arab contractors have agreed to build the world's sixth largest high-speed rail system.

“This is the largest order in Siemens history,” Siemens CEO Roland Bosch said in a statement on the deal, Reuters news agency reported.

The project is part of Egypt's extensive investment in transport infrastructure over the past few years. When the said project is completed, Egypt will have 3 high-speed rail networks.

Siemens CEO Bosch also stated that the share of subordinate companies in the project is 8,1 billion euros ($8,69 billion), and that the contract signed on September 1, 2021 for the first line includes an initial contract worth 2,7 billion euros.

📩 30/05/2022 10:05

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