A group of 18 international institutions is preparing a €2.260 billion loan for the first line of the Ain Sokhna-New Alamein-Marsa Matrouh high-speed electric railway.

The Egyptian government is currently negotiating with several international financing institutions to secure a $2.1 billion concessional loan for the implementation of the second high-speed rail line.

Minister of Transportation has assigned Nasr Company for Civil Works (NCCW) the construction works of the berm for the first line of the high-speed electric railway project for a total of EGP 120 million.

The Egyptian passenger railways play a key role in the country’s economic growth. Not only do they contribute to the country’s revenues, but also help connect people to their destinations. Therefore, the Egyptian government is keen to develop passenger railways in order to provide citizens with an efficient railway system.

The first phase extending over 660 kilometers will connect Ain Sokhna on the Red Sea to Marsa Matrouh and Alexandria on the Mediterranean with the aim of providing access to safe, affordable, accessible and sustainable transportation systems.

“We are proud to make a significant contribution to this project, which will provide nearly 90% of the Egyptian population with access to fast and reliable public transport. It will also make a significant contribution to sustainability by shifting freight traffic to rail and stimulating Egypt’s economic development,” said Orso Vesperini, COO International and Major Projects at NGE.