Siemens Mobility wins $8.7 billion high-speed rail deal in Egypt
BERLIN (Reuters) – Egypt has signed a contract with industrial manufacturing firm Siemens’ rail and visitors unit and its consortium companions to construct about 2,000 kilometres of high-speed railways, the German group mentioned on Saturday.
The deal between Egypt’s Nationwide Authority for Tunnels (NAT) and a consortium of Siemens Mobility, Orascom Building and Arab Contractors will create the world’s sixth largest high-speed rail system, Siemens mentioned.
Siemens added that its subsidiary’s share within the challenge is value 8.1 billion euros ($8.69 billion) and contains the preliminary contract of two.7 billion euros for the primary line signed on Sept. 1, 2021.
($1 = 0.9322 euros)
(Reporting by Zuzanna Szymanska; Enhancing by Frances Kerry)
