It was signed by Mohamed Mohamed Salah El-Din, Vice Chairman and Managing Director of the National Authority for Military Production, Mostafa El Bagoury, CEO of Siemens Egypt, and Wael Omar, Senior Vice President of Digital Industries at Siemens.
During the meeting, the premier expressed pleasure over reaching an agreement on all the technical details of a high-speed train project, which will be carried out in Egypt.
Shaker hailed the level of cooperation with the German company in implementing a number of projects and programs in the electricity sector.
This came in the presence of Egypt’s Prime Minister Mostafa Madbouly, and Mohamed Shaker, Minister of Electricity and Renewable Energy.
The consortium includes (German Siemens, Orascom Construction, and Arab Contractors). The project is about 660 km long, and the contract includes maintenance operations for a period of 15 years.
This came during a virtual panel organized by Siemens Middle East, titled “Technology with Purpose for the Middle East”.
Egypt’s new express train network is seen as a pillar that will change the transport map in the country.
Minister of Transport Kamel el Wazir inspected Saturday the construction of the electric train, linking Cairo’s Helwan district and the Red Sea’s city of Ain el Sokhna, passing through the New Administrative Capital.
In two years, Egypt will have an express electric train connecting new urban communities and the Red Sea to the Mediterranean for the first time at a L.E. 360 billion cost. Such a high figure has drawn an expected controversy.
The agreement encompasses a rail system with a network of 1000km. The first high-speed line will stretch across 460km and has an order value of around $3 billion.
German Siemens’s CEO Joe Kaeser said the new high-speed electric train project that the company will implement in Egypt will help provide 15,000 job opportunities in the field of construction in its first phase.
The signing ceremony was witnessed by Prime Minister Mostafa Madbouli, and attended by Minister of Transport Kamel Al-Wazir, CEO of Siemens Joe Kaiser, and Executive Vice President of the company, Roland Bush.
The signature came within the framework of implementing the country's strategy that aims to expand the fields of clean green energy and increase the contribution of renewable energy in the electric energy mix.
The 534-km line will accommodate both cargo and passenger trains and will pass through the new capital, 6th of October City and Alexandria, making the line the longest in the Middle East.
Kaeser and Nunn opened a Siemens Smart Clinic in Shubra el Kheima.
On his side, Siemens AG president and CEO expressed the company's aspiration to develop its activities in Egypt.
She pointed out to the importance of spreading the culture of industrial digitization in all the Egyptian industrial sectors.
The two sides agreed to cooperate to establish a center of research excellence in the field of technical training as well as to develop the training programs offered at the AOI.
President Abdel Fattah al-Sisi on Saturday expressed Egypt's appreciation of the current cooperation with the European Bank for Reconstruction and Development.
The source added that the Cabinet agreed to contract with Siemens Germany to implement those projects under the BOO system.