Hyundai Rotem has won a tender launched by the National Tunneling Authority – a subsidiary of the Egyptian Ministry of Transport – to supply and locally produce metro trainsets for the second and third lines with a budget of $656 million.
Hyundai Rotem will supply trains for the second and third metro lines until 2028 and maintain them for eight years after the warranty period expires. In addition, it will work to transfer its technology to the new Egyptian National Railway Industries Company (NERIC).
South Korea’s Ambassador in Cairo, Hong-Jin Wook, expressed his gratitude for the efforts of the Egyptian side to ensure the success of this offer in his remarks during the signing ceremony between Hyundai Rotem, NERIC and the Egyptian National Authority for Tunnels, which was held on August 24 in Al-Alamein in the presence of Prime Minister Mostafa Madbouly, Minister of Transport Kamel Al-Wazir, Minister of International Cooperation Rania Al-Mashat, Minister of Planning and Economic Development Hala El-Said, Trade and Industry Minister Ahmed Saleh, and Chairman of the General Authority of the Suez Canal Economic Zone (SCZone) Walid Gamal Al-Din.
Hong added that the success of this tender symbolizes the deep economic cooperation between Korea and Egypt – a cooperation focused on building a better future that goes beyond the monetary aspects of this tender, as the strengthening transport infrastructure should increase the social well-being of Egyptians. citizens, as well as boosting Egyptian exports.
In addition, the Ambassador commended the Egyptian government’s efforts to expand the metro and railway network in major cities, as it introduced high-speed railways and encouraged various large-scale projects.
He expressed hope that winning the tender would strengthen cooperation between the two countries, and he expects economic cooperation to continue to flourish between the two countries after the recent success of the tender. tenders and the successful conclusion of the K9 export contract last February. Moreover, he expressed his hope that the success of Hyundai Rotem would be an incentive to promote cooperation between the two brotherly countries.
The Korean Embassy in Cairo supported the success of this bid by arranging meetings between Hong and senior Egyptian officials, including the Minister of Communications and Information Technology Amr Talaat and the head of the National Authority of Tunnels (NAT) Sherif Hassan, stressing the importance of this project in improving the standard of living of Egyptians and its contribution to the Egyptian economy.
In addition, the Embassy has given great support to Hyundai Rotem’s efforts by coordinating a meeting with President Abdel Fattah Al-Sisi and Hyundai Rotem Chairman Lee Young-Bae in April 2021, and also by arranging a meeting between the Minister of Transport Kamel El-Wazir and his South Korean counterpart during the latter’s visit to Egypt in March 2022.