The German Siemens Group announced in a statement yesterday that Egypt has signed a contract with its railway industries unit and its partners in a consortium to build two high-speed rail lines with a length of two thousand kilometers. The sixth largest high-speed rail system in the world.
This is the largest agreement in Siemens’ history, and the project is part of Egypt’s extensive investment in transportation infrastructure over the past few years.
Once the project is completed, The high-speed rail network in Egypt will consist of three railway lines, One of them is a line linking its coasts on the Red Sea and the Mediterranean Sea. In addition to the two lines announced in the Siemens statement.
Siemens added that its subsidiary’s stake in the project amounts to 8.1 billion euros ($8.69 billion) and includes an initial contract worth 2.7 billion euros for the first line signed on September 1, 2021.