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Arab Finance: A consortium comprised South Korea’s Hyundai Rotem and Egypt’s National Egyptian Railway Industries Company (NERIC) has signed a contract with the National Authority for Tunnels (NAT) for the manufacturing and supply of 40 new metro trains, according to an official statement on August 24th.
The new trains will be constructed with 320 carriages as part of Cairo Metro Lines 2 and 3 that are set to transport around three million passengers a day once complete.
The contract includes a two-year warranty and eight-year of maintenance, in addition to a one-year overhauling, at a total value of $656 million.
The contract has been signed by the Chairman of NAT Sherif Hassan Leil, President and CEO of Hyundai Rotem Lee Yong-Bae, and Managing Director of NERIC Ahmed Fikry Abdel Wahab.
The signing ceremony took place in New Alamein with the presence of Prime Minister Mostafa Madbouly, Minister of Transport Kamel El-Wazir, Minister of Planning and Economic Development Hala El-Said, Minister of International Cooperation Rania Al-Mashat, Minster of Trade and Industry Ahmed Samir, and the South Korean Ambassador to Cairo.
El-Wazir said that Egypt is set to receive a number of trains this year in collaboration with SEMAF.
It is worth noting that the ENR and NERIC previously signed a protocol with Talgo to consider establishing a factory for the manufacturing of train carriages in Egypt.
The protocol includes producing 500 carriages of various types as the first phase of manufacturing a total of 1,000 carriages.
