WORLD


Egypt signs €8 billion deal with Siemens for high-speed rail system

Baku, May 30, AZERTAC

The German industrial group Siemens said on Saturday evening said on Saturday evening that it had agreed on a deal to construct 2,000 kilometers (1,243 miles) of high-speed rail lines across Egypt, according to Deutsche Welle.

The deal, which is worth €8.1 billion ($8.7 billion), is the biggest order in the Munich-based company's 175-year history.

The contract includes, besides the rail lines, 41 high-speed trains, 94 regional trains, 41 freight trains, and eight depots and freight stations. It also stipulates that Siemens will be responsible for maintenance for 15 years.

The mega-project aims to connect 60 cities by train, at speeds of up to 230 kilometers per hour, providing rail access to around 90% of the population, according to Siemens.

Egyptian President Abdel Fatah el-Sisi called the planned network "the beginning of a new era for the rail system in Egypt, Africa and the Middle East," during the contract signing ceremony.

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