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An Egyptian-Chinese consortium won a tender to design, finance, and operate a high-speed train linking Ain Sokhna and Alamein City, Al Mal cited an unnamed source familiar with the matter.
The consortium is comprised of Egypt's Samcrete, Arab Organization for Industrialization, China Civil Engineering Construction Corporation, and China Railway Construction Corporation.
Sources earlier told the local news website that the project is expected to cost $7-8 billion (EGP 110.68-126.49 billion).
The country announced in January its plans to implement rail projects at a value of EGP 55 billion during the period from June 2020 to 2022.
* At press time, the conversion rate is $1 = EGP 15.81
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