30 mei 2022
12:14
–
Egypt awards the construction of a huge network for high-speed trains to a consortium led by the German Siemens. The industrial group will receive 8.1 billion euros for its share in the sample order.
–
About 2,000 kilometers of tracks for high-speed trains. That’s what Siemens
in collaboration with partners Orascom Construction and Arab Contractors, may build in Egypt, the company announced on Saturday.
–
Via subsidiary Siemens Mobility, this enormous order will bring in 8.1 billion euros. “The largest order in the history of our company,” said Roland Busch, who heads the company, which was founded in 1957. The amount includes the initial contract of 2.7 billion euros that was signed in September.
–
The rail network will spread over three lines, one of which will connect the Red Sea coast with the Mediterranean Sea. Siemens refers to ‘a Suez canal on rails’. It will be the world’s sixth
largest high-speed rail system.
–
The investment fits into a broader picture of major infrastructure investments in Egypt. Over the past seven years, the African country has tripled its expenditure on major works.
–
price reaction
–
