Search Site

ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Alpha Dhabi acquires interest in NCTH

The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.

Meraas awards construction contract

The $272m contract has been awarded for Bluewaters Bay.

SIB’s 2024 profit $272m

The profit surpassed AED 1 billion for the first time in bank's history.

AD Ports to invest in Kazakh port

Under the deal, AD Ports Group owns 51% stake.

Egypt finalizes pact with Siemens to run high-speed train line

The stations of the line will be located in the areas of intersection with the upper axes connecting the east and west of the Nile.
  • The new line will extend from 6th of October city to Aswan, with a length of 925 kilometers (575 miles approx).
  • The cost of this project will be financed through a soft foreign government loan and the state's general budget.

Egypt’s Ministry of Transport will sign a contract with Siemens to implement the second high-speed train line in the country.

Media reports said the new line will extend from October 6 city to Aswan, with a length of 925 kilometers (575 miles approx.)

The ministry has finalized negotiations with the German company in parallel with the completion of the route, and detailed studies of the project.

It will be launched in parallel to the Western Cairo-Aswan Desert Road, in order to link all Upper Egypt’s governorates with a designed speed up to 250km per hour.

The implementation of the project is set to start soon to serve passengers and goods.

The Egyptian contracting companies will carry out civil and construction works, while Siemens will implement signaling and communication systems and supply trains.

Additionally, the cost of this project will be financed through a soft foreign government loan and the state’s general budget.

The line includes 28 stations (9 express and 19 regional) along the route from October to Aswan.

Its stations will be located in the areas of intersection with the upper axes connecting the east and west of the Nile.