Egypt Ties Up With Hyundai To Revamp Cairo Metro Lines
Egypt–Egypt has signed a $656 million deal with the South Korean bigwig Hyundai that will now supply 320 carriages and 40 trains. Cairo’s metro service is long overdue for an upgrade and is also being done in order to localize the industry as well. This has been shared by the Egyptian Ministry of Transport.
The upgrade of the transport system would be done for the city’s second and third metro lines and is being carried out in agreement with Egypt’s National Authority for Tunnels. According to the Minister of Transport Kamel El Wazir, “The contract represents the first step in realising the dream of Egypt becoming one of the major industrial countries in this field. It aims to transfer advanced technology in this industry and open new horizons to increase national income through exporting to various countries.”
With this step, Egypt plans to localize at 30percent of its transport industry. The push comes as the PM wishes to revolutionize the Egyptian industry to international standards, with focus on heavy industries. Moving towards self-sufficiency, Egyptian National Railways has tied up with Spanish train manufacturer Talgo and Neric in order to study the establishment of an Egyptian factory to produce railway passenger cars.
Egypt had signed a memorandum of understanding with Hyundai Rotem, part of the Hyundai Group, in April 2021 to localise the train industry and transfer South Korean technology.
Hyundai Rotem’s chief executive Yong-Bae Lee said at the time the company would be opening factories in Egypt to manufacture metro cars, signalling systems and control and driving equipment.
Founded in 1977, Hyundai Rotem manufactures rolling stock, defence products and plant equipment, and has supplied various types of railway vehicles to 38 countries, according to its website.