The Egyptian Sovereign Fund and the Suez Canal Economic Zone authority announced their partnership in the creation of a national railway industry yesterday, as part of moves to build up the domestic rail industry in Egypt.
Egypt’s Minister of Planning Hala El-Saeed said the private sector alliance includes Orascom Construction, Hassan Allam Holding, Connect Professional Services and Samcrete Investments. The project will produce 300 railway cars annually and provide 2,000 jobs, as well as increase Egypt’s ability to export regionally and internationally.
