Egypt’s first electric train, linking between Salam City on the outskirts of Cairo with the country’s anticipated new administrative capital, will cost $1.4 billion, a government source said Tuesday.
The projected time frame for establishing the electric train was reduced to 24 months from 30 months upon President Abdel Fattah al-Sisi’s directives, an official in the Egyptian Ministry of Transportation told Amwal Al Ghad.
Egypt hopes the project would contribute to enhancing the efforts of urban development along the course of the train, as well as the reduction of traffic congestion in addition to energy conservation and eco-friendliness.
The project is expected to provide a safe and modern means of transportation for commuters between Greater Cairo, and the new administrative capital. It is also set to facilitate the transport of goods and production materials to and from the cities and industrial areas located along the railway line.
Egypt will implement the electric train project in cooperation with a Chinese firm, which will inject more than $725 million in the project; while the government will contribute around $500 million.
According to the agreement signed with China, Egyptian construction firms will take part in the electric train project, the source added.