Egypt's transport ministry and German Siemens company signed on Thursday a memorandum of understanding for the establishment of an integrated system of a high-speed electric railway in Egypt.
The system will have a total of 1,000km of railway lines nationwide and will cost EGP 360 billion.
Prime Minister Mostafa Madbouli attended the signing ceremony.
In statements after signing the memo, transport minister Kamel El-Wazir said the agreement includes the immediate establishment of a railway line linking Suez governorate’s Ain Sokhna with the New Alamein city, passing through the New Administrative Capital as well as 15 stations.
This line will be 460km long and is set to be implemented within two years, El-Wazir added.
He said the agreement is the culmination of lengthy negotiations with the German company followed by a meeting between the company representatives and President Abdel-Fattah El-Sisi.
The new electric train line represents 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 several cities.