President Abdel Fattah El Sisi probed on Wednesday the final agreement on a project, under which Siemens AG will establish an integrated electric monorail system in Egypt with total length of about 1,000 kilometers nationwide.
The two-year project will be implemented at a total cost of EGP 360 billion to link Ain Sokhna city with the New Alamein City, all the way through the New Administrative Capital, including 15 stations at a length of 460 kilometers.
President Sisi made the remarks on Wednesday during a meeting with President and Chief Executive Officer of Siemens AG Joe Kaeser and Deputy CEO Roland Busch in the presence of Prime Minister Mostafa Madbouli and Transport Minister Kamel el Wazir, Presidential Spokesman Bassam Rady said.
Kaeser conveyed greetings of German Chancellor Angela Merkel to Sisi, expressing his appreciation for his company’s fruitful cooperation with Egypt in the development fields.
President Sisi hailed the progress made in cooperation between Egypt and Siemens in particular and the German side in general in the industrial field.
The president said the new electric monorail line will greatly benefit the transport network system in Egypt to facilitate the movement of people and trade.
“The new project will link coasts of the Red and Mediterranean seas, all the way through the New administrative Capital and other major cities, a matter that will help enhance the development efforts in Egypt and opens up promising future prospects to develop cooperation with the German company in transferring the modern technology systems,” Sisi added.
