Egypt signed a memorandum of understanding (MoU) with Germany’s Siemens on Thursday for construction of a $23 billion high-speed train line, linking Ain Sokhna and New Alamein City all away through New Administrative Capital.
The Memorandum was signed between Ministry of Transportation of Egypt, represented by National Authority for Tunnels (NAT), and Siemens, in the presence of Prime Minister Mostafa Madbouly.
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.
On his part, President Abdel Fattah El 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.
On his part, the Minister of Transport noted that this agreement came after long negotiations, that ended following the company’s representatives’ meeting with President Sisi, with the two parties agreeing to exceptional conditions, with different ideas of operation which include the highest specifications in the world.
“There are no junctions or crossings as is the case with the current railways,” the Minister affirmed. “This project reflects the depth of Egyptian-German relations, as President keen to develop these relations in all fields.”
The MoU aimed at implementing an integrated system for the express electric train in Egypt with total length of about 1,000 kilometers nationwide.