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Egypt is investing nearly $7.8 billion in the first phase of its 2,000-km high-speed electric train network, a newspaper reported on Friday.
The project, awaded to Germany’s Siemens Mobility and its Egyptian partners Orascom Construction and the Arab Contractors Company, has three phases.
“Phase 1 of the project is progressing smoothly…its costs are estimated at around $7.8 billion,” Addustour Arabic language daily said, citing a government report.
Phase 1 will link the Northeastern Ain Sokhna city with El Alamein city in the Northwestern Matrouh Governorate, according to the report.
The paper quoted Transport Minister Kamil Al-Wazir as saying the project includes the construction of 60 train stations and the deployment of 41 high-speed trains, 94 local trains and 40 freight trains. Phase 1 will be completed in late 2024, he added.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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