Siemens Mobility and Egypt’s National Authority for Tunnels have signed an MoU, along with local firms Orascom Construction and The Arab Contractors (Osman Ahmed Osman & Co.), for the design, installation and commissioning of a high-speed rail transportation system.
This $23bn system will connect the country’s eastern and northern coasts.
In addition, Siemens Mobility will provide maintenance services.
The agreement consists of a rail system with a 1,000km network, which the first involving a 460km high-speed line.
The order value of this initial high-speed line stands at around $3bn.
Siemens AG president and CEO Joe Kaeser said: “We are honoured and proud to expand our trustful partnership with Egypt. By building a high-efficiency rail system for the country, we will support the Egyptian people with affordable, clean and reliable transportation.
“After the highly successful energy megaproject, we are now keen to repeat this visionary spirit in the mobility sector together with our partners.”
While passing through the New Administrative Capital, the first 460km high-speed line will link El-Alamein on the Mediterranean Sea and Ain Sokhna on the Red Sea.
This line will also support the movement for freight transport.
Siemens Mobility CEO Michael Peter said: “We are delighted that the Ministry of Transport is seeking to put their trust in us to deliver this important project. Our digital leadership and comprehensive turnkey services will bring an integrated and state-of-the-art high-speed rail system that will provide a technology boost for the country and create local jobs.
“The system will significantly enhance passenger experience and reduce travel time for millions of Egyptian people.”