Egypt signs agreement for $23 billion first high-speed electric train
London, Jan. 18, 2021 (AltAfrica)– Egypt says high speed electric train is the solution to its transportation problem and has signed a memorandum of understanding with Germany’s Siemens for the construction of a high-speed electric train line linking Egypt’s eastern and northern coasts.
Ahram Online reports that the project is not just a train line, but an integrated system of a high-speed electric rail network linking the whole country with a total length of 1750 Kilometres and a total speed of 250 Kilometres per hour.
Besides working side-by-side with the 1000 kilometre-long diesel-powered train network, the high-speed electric train will help be part of the Egyptian development process through connecting the country’s industrial districts to transport cargo from and to ports nationwide.
A number of trains will be designated to transport tourists to and from many destinations too. Also, the project aims to link Egypt with neighbouring countries.
The project comprises four lines, with the first to be completed in 2023. The first line – which is 460km long – will pass through the Suez governorate’s Ain Sokhna, the New Administrative Capital, Cairo, Giza, Six October city, Alexandria and New Alamein city.
The second will link the Red Sea’s main port with Alexandria’s port as well as Matrouh’s Gargoub port. While the third connects Hurghada and Safaga with Qena and Luxor. The last line will link Six October city with Luxor and Aswan.
The project will be implemented by Siemens along with other Egyptian companies. Each line is set to be implemented within two years
The total cost, estimated at EGP 360 ($23 billion), will be paid to Siemens and the Egyptian companies involved in the project. According to the deal, the cost will be paid six years after the beginning of construction work over a period of 14 years.
The high-speed electric train project will create 15,000 job opportunities and 2, 000 permanent jobs during the first stage only.