Egypt’s Ministry of Transport has signed a memorandum of understanding to establish, maintain and operate an electric train project to transport goods and passengers from the port west of Port Said to Abu Qir new port in Alexandria.
The memorandum was signed on Monday during the Egyptian Economic Conference (EEC 2022) between the National Authority for Tunnels (NAT) and an alliance of El Dedi Group and Gama Construction Company.
This agreement includes the special executive procedures about establishing an Egyptian joint stock company between the government and the private sector to build up the project.
The project aims to create huge investment opportunities along the route, as it is planned for the private sector to establish many industrial projects along with the commercial, logistics and tourist centres.
This creates thousands of job opportunities along the route as the project will contribute to increase the economic and commercial activities and raise the cargo containers’ circulation in these ports.
The MOU came under the directives of the political leadership to expand partnership with the private sector, Minister of Transport Kamel El-Wazir assured during the conference.
El-Wazir further added that this step aligned with the Ministry’s plan to cooperate with international and Egyptian private sector operators or international Egyptian alliances to manage and operate modern transport means.
