National Railway Company to Open Factory With EGP 4.2B Investment

The National Egyptian Railway Industries Company (NERIC) announced plans to establish a factory in the East Port Said Industrial Zone in 2025. The first phase of the project will be funded with a total investment of around EGP 4.2 billion. The project will have a total of three phases, each of which will cover 100,000 square metres.

The first phase of the project is currently under construction and will specialise the production of railway and metro vehicles. The second phase will produce rolling stock for light electric trains, high-speed trains and monorails. The third phase, meanwhile, will refurbish and repair older metro and railway vehicles.

The factory will cooperate with South Korea's Hyundai Rotem to create 40 new metro trains with 320 air-conditioned vehicles for the second and third lines of the Greater Cairo Metro.

The syndicated loan agreement was signed between NERIC and the National Bank of Egypt, the Commercial International Bank and the Arab African International Bank.