ArabFinance: Siemens looks forward to signing a deal for a 1,000 kilometer high-speed national electric rail network worth some EGP 360 billion, according to an Ittihadiya statement.

The company’s CEO Joe Kaeser discussed the final agreement and other details on the project with President Abdel Fattah El Sisi on January 13th.

Presidential spokesman Bassam Radi said the agreement includes the immediate establishment of a railway line linking Ain Sokhna with New Alamein, passing through the New Administrative Capital, as well as 15 stations.

The line will be 460 kilometers long and is set to be implemented within two years, he added.

The technology powerhouse was earlier awarded a contract to provide control and communication systems for Ahmed Hamdy Tunnel 2, a transportation link beneath Egypt’s Suez Canal.