The Egyptian Ministry of Transport has signed a memorandum of understanding with Siemens on Thursday for construction of a USD 23 billion high-speed train line linking Egypt’s eastern and northern coasts.
The electric rail line would run from Ain Sokhna on the Red Sea to New Alamein on the Mediterranean coast, passing through a new capital under construction in the desert east of Cairo. The MoU includes local companies Orascom Construction S.A.E. and The Arab Contractors.
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