Egypt signed an agreement with Siemens Mobility, Orascom Construction and Arab Contractors to design and build the country’s first high-speed rail network that will be 1,000 kilometres long.
The agreement was signed by the country’s National Authority for Tunnels and the consortium, Orascom Construction said yesterday.
The initial high-speed rail line will be 460km long and will cater to both passenger and cargo services.
It will have an order value of about $3 billion and will connect Ain Sokhna on the Red Sea to Al Alamein on the Mediterranean Sea while passing through the new administrative capital east of Cairo.
The mega-project is expected to be completed within two years at an overall cost of 360bn Egyptian pounds ($23bn), Egypt's President Abdel Fattah El Sisi said, according to the Facebook page of the presidency's spokesman.
The Arab world’s most populous country is undertaking several new projects to upgrade its transport network.
The project builds on Orascom Construction’s transport portfolio that includes monorail, light rail, railway and metro projects.
The Cairo-based company is an engineering and construction contractor mainly focused on infrastructure, industrial and high-end commercial projects in the Middle East, Africa and the US.
Orascom Construction and Siemens have worked together in the past on power projects in Egypt.
“Following our joint success with Siemens on Egypt’s mega power projects, we are pleased to partner once again with our long-term repeat partner,” said Mr Bishai.
The agreement was signed by NAT chairman Essam Waly and Mr Peter last Thursday.
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Group A: Son Wan-ho (Kor), Lee Chong Wei (Mas), Ng Long Angus (HK), Chen Long (Chn)
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Women’s Singles
Group A: Akane Yamaguchi (Jpn), Pusarla Sindhu (Ind), Sayaka Sato (Jpn), He Bingjiao (Chn)
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
SPECS
Toyota land Cruiser 2020 5.7L VXR
Engine: 5.7-litre V8
Transmission: eight-speed automatic
Power: 362hp
Torque: 530Nm
Price: Dh329,000 (base model 4.0L EXR Dh215,900)
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Position: Head of the Criminal Registration Department at Hatta police
Family: Five sons and three daughters
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Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
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Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
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Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
