Memorandum of Understanding to establish a joint stock company to operate and maintain an electric train project to transport goods and passengers 25/10/2022 | 09:18 AM
During the activities of the second day of the Economic Conference Egypt 2022
Established under the patronage and honor of His Excellency President Abdel Fattah El-Sisi, President of the Republic
The Minister of Transport witnesses the signing of a memorandum of understanding on the establishment of an Egyptian joint-stock company between the government sector and the private sector to establish, operate, maintain and manage an electric train project to transport goods and passengers linking West Port Said Port and New Abu Qir Port in Alexandria
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Lieutenant-General Engineer / Kamel Al-Wazir - Minister of Transport witnessed the signing of a memorandum of understanding regarding the executive procedures for the establishment of an Egyptian joint stock company between the government sector and the private sector to establish, operate, maintain and manage an electric train project to transport goods and passengers to connect West Port Said port with the new port of Abu Qir in Alexandria, between the National Authority for Tunnels and a coalition Eldeedi Group of Companies and Gama Construction Company
The minister stressed that this signing comes in implementation of the political leadership’s directives to expand partnership with the private sector in the implementation of projects and within the framework of the Ministry of Transport’s plan to cooperate with international and Egyptian private sector operators or Egyptian international alliances to manage and operate modern means of transportation.
Pointing out that an Egyptian joint-stock company between the public and private sectors will be established to manage, operate and maintain the project without burdening the state with any financial burdens or guarantees. Such as the works of bridges, stations and fences, and the alliance will coordinate with the German company Siemens to implement the works of railway systems "signals, communications, electric power -...." and manufacture and supply mobile units and workshop equipment for the project, as well as coordination with Siemens to develop a plan to localize the railway industry in Egypt .
The Minister of Transport stated that the project will contribute to facilitating the movement of passengers and goods on the international coastal road, which will have a positive impact on the economic and commercial activities in the cities, industrial areas and ports that connect them, as it helps in the movement of exports and imports, as well as in the introduction of products in the local market.
The project also aims to create huge investment opportunities along the route, as it is planned that the private sector will establish many industrial projects, commercial, logistical and tourism centers in the cities it will pass through, creating thousands of job opportunities along the route.
It will also contribute to increasing economic and commercial activities and increasing the circulation of cargo containers in these ports, as well as other ports by linking the line to the current railway network.
The minister confirmed that the electric train track extends to connect West Port Said port with Abu Qir port in Alexandria with a length of about 250 km, passing through the cities of Port Said, Damietta, New Damietta, Gamasa, New Mansoura, Baltim, Idku, Abu Qir, and passing through the ports overlooking the coast (West Port Said Port - Damietta Sea Port - Abu Qir Port). And linking it with the dry port to be established in Damietta, and linking it with the existing railway network.