Egypt’s President Abdel-Fattah El-Sisi reviewed with German Siemens CEO Joe Kaeser the final agreement on the establishment of an integrated system of a high-speed electric railway in Egypt, Presidential spokesman Bassam Radi said.
The system, set to be implemented by the German multinational company, will have a total of 1,000km of railway lines nationwide, Radi said, adding that it will cost EGP 360 billion.
The agreement includes the immediate establishment of a railway line linking the Suez governorate’s Ain Sokhna with the New Alamein city, passing through the New Administrative Capital, as well as 15 stations, Radi said.
This line will be 460km long and is set to be implemented within two years, Radi added.
Kaeser conveyed greetings from Germany’s Chancellor Angela Merkel to the Egyptian president and affirmed Siemens’ appreciation for the cooperation with Egypt in the development.
Kaeser highlighted the projects implemented by the German company over the past years in Egypt, especially in the fields of energy and electricity plants.
El-Sisi asked to deliver his greetings to the German chancellor, expressing appreciation for the cooperation path between Egypt and Siemens. He hailed the Egyptian industrial experience in general, saying that it is characterised by accuracy and commitment.
The president said the new electric train line will represent a significant addition to the country’s transport network, in terms of trade and passenger transport, as it will link the Red Sea and Mediterranean Sea coasts, passing through main cities.
Egypt's Prime Minister Mostafa Madbouly, Transport Minister Kamel El-Wazir, and Siemens's deputy CEO Roland Busch attended the meeting with El-Sisi.