Siemens Mobility, alongside Orascom Construction and The Arab Contractors, will provide turnkey services to design, install, commission and maintain a high-speed, electrified main and freight rail line in Egypt for 15 years, according to a statement by the German transport solutions provider.
Dubbed the 'Suez Canal on tracks' the total contract value is about $4.5 billion, of which Siemens Mobility’s share is around $3 billion. The “Vast majority” of the order intake is expected to be booked in 2022 after financial closing.
Today's contract signing will cover the initial 660 km out of the 1800 km rail network planned. Also agreed to discuss and finalize the agreements on two other high-speed railway lines including rail infrastructure and trains, and maintenance in the coming months.
“This high-speed train will strengthen the infrastructure of the areas it passes through and help achieve urban sprawl, in addition to linking the New Administrative Capital and new cities to the railway network for transporting passengers and goods,” said H.E Lieutenant General Kamel El-Wazir, Egyptian Minister of Transport.