China to build light railroad worth $1.24 billion in Egypt

Almaty. August 17. Silkroadnews – China will build a light railroad worth $1.24 billion in Egypt, China Daily wrote.
“A unit of China Railway Group Ltd said it will begin preliminary work on a $1.24 billion-worth light rail project in Egypt within two to three months, marking China’s debut rail project in the country”, the report said.
It is noted that upon completion of the construction, the railway will be able to transport 340,000 passengers a day, and the travel time from Cairo to the new administrative center under construction, as well as the city of Al-Ashir-min-Ramadan, will be reduced 30%.
As reported, the length of the light rail is 66 km with 11 stops. The road connects Cairo with the newly constructed administrative capital and remote areas of Greater Cairo, including Al-Salam, Al-Ashir-min-Ramadan, Obour, Badr and Shorouk. The designed maximum speed will be 120 km/h.
The publication says, the project is being implemented in accordance with the recently signed agreement between the consortium of Chinese firms and the Egyptian Ministry of Transport. “The planned rail project shows that Egypt acknowledges China’s advanced technology in rail construction”, the report quotes Han Bing, minister counselor for economic affairs with the Chinese Embassy in Egypt, saying.
The project is expected not only to improve the situation with regional transport, but also create new jobs, as well as to contribute to the development of the local construction industry.
The Chinese side will provide technology and equipment, while the Egyptian companies will be dealing with construction works.
Last year bilateral trade between China and Egypt reached $11.3 billion, down 12% year-on-year, with this China’s exports to Egypt declined 9.92% year-on-year and imports fell 39.8%.
China mainly exports to Egypt mechanical and electrical products, vehicles and accessories, as well as steel and steel products, and also imports crude oil, stone, lubricants, citrus and ore.