An Egyptian-Chinese consortium has won a high-speed railway project in the most populous Arab country with a value of around $9 billion, press reports have said.

The consortium comprising of Samcrete, Arab Organisation for Industrialisation and China Civil Engineering Construction Corporation (CCECC) was awarded the project which involves the construction of a 543-km rail line running through the administrative capital near Cairo to the Red Sea port of Ain Sokhna and Mediterranean Ports of Alexandra and El-Alamein, Alyoum Al-Sabei and other newspapers said.

The Supreme Committee overseeing the project for the 250-kph train chose the consortium led by CCECC from among nine international consortia bidding for the contract.

According to the report, two alliances were shortlisted in the final contract evaluation, including the winner and a consortium comprising AVIC, China State and CREC from China, Siemens of Germany, SNCF of France, and Egypt's Orascom and Arab Contractors.

Samcrete's CEO and Managing Director Sherif Nazmy said the project represents a "major turning point as Egypt now joins the list of countries using high-speed trains.

"This will support the boom in the transportation sector and infrastructure as well as development projects in the country," he said.

He noted that it is the first time since 1854 Egypt will have a rail line linking Cairo to the Red Sea in the East and the Mediterranean in the North.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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