A group of 18 international institutions is preparing a €2.260 billion loan for the first line of the Ain Sokhna-New Alamein-Marsa Matrouh high-speed electric railway, Asharq Business reported.

The loan will finance the external components of the project, including the manufacture and supply of 15 express trains, 34 passenger trains with a speed of 160 kilometers per hour, and 14 locomotives for freight transportation.

This is in addition financing the installation of the telecommunication systems and electromechanical works being executed by a consortium of Siemens, The Arab Contractors, and Orascom Construction.

The construction works of the line are currently being carried out, and the trial run is set to commence by the end of 2024 or in early 2025.

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