The Egyptian Transport ministry is in talks with four foreign firms to launch a new factory to manufacture metros and railway cars at Suez Canal Economic Zone (SCZone), reports say.
The factory will be a joint venture between the four companies namely Bombardier Transportation, Russia’s Transmashholding, Seminis, Korean Hyundai Rotem and the ministry as well as the Sovereign Fund of Egypt, the SCZone, and the National Company for Railway Industries (NERC).
NERC will manage the project following its inception. In a separate report, the ministry on May 09 said it was in talks with three international companies to manage the country’s railway system.
The companies, identified as French transport company RATP Dev and two German and Russian firms, will submit a detailed long-term plan for improving the country’s railway system.
Egypt is planning to launch from July, 107 projects at EGP 617.7 billion in several areas including roads, railways, tunnels, seaports, urban ports and logistics, and inland transportation, Arab Finance reports.