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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Egypt Signs $4.45 Bln Contract for High-speed Rail Link

A view of the city skyline and River Nile from Cairo tower building in the capital of Cairo, Egypt December 5, 2019. REUTERS/Amr Abdallah Dalsh

Egypt has signed a $4.45 billion contract for development of a high-speed electric rail line that will link the Red Sea and Mediterranean coasts and be built with a consortium led by Germany’s Siemens, a cabinet statement said on Wednesday.

The contract will cover the design, implementation and maintenance of the rail link over 15 years, the cabinet said.

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