The contract was signed by the head of Egypt’s National Tunnel Authority (NAT), the head of DB and the head of El-Sewedi in the presence of Egyptian Prime Minister Mostafa Madbouly on the sidelines of the third day of the UN meteorological meeting in the Red Sea City of Sharm el-Sheikh.
The contract has a duration of 15 years, with the option of another extension of 15 years, according to a statement from the firm.
In May 2022, Egypt signed a contract with Germany’s Siemens Mobility to build around 2,000 kilometers of high-speed railways in the country worth an estimated total of EGP 360 billion ($23 billion).
The allocation is part of the country’s efforts to expand green shipping to combat climate change, the mobility of its population, reduce emissions and reduce congestion.
The first line, which will operate with DB, will have a length of 660 kilometers and will link the city of Ain Sokna on the Red Sea with Alexandria and Marsa Matrouh on the Mediterranean.
The momentum line will stretch 1,100 kilometers, linking Cairo in the north with Abu Simbel of Aswan in the south, while the third line will link Luxor in Upper Egypt with Hurghada on the Red Sea.
The railway lines will connect 60 villages across the country via trains that can reach speeds of up to 230 km/h.
The network, which will be available to approximately 90% of Egyptians, will supply around 500 million units per year.
Egypt will pay the allowance for a period of 14 years, six years after the structure begins.
The allocation will be the sixth largest of its kind in the world, according to the German fitness maker.