These job seekers will be responsible for the maintenance of rolling stock for line 2 of the Cairo metro. The aim is to allow trainees to acquire skills and practical experience in the management of this material. This training is also intended to facilitate their access to employment.
The European Bank for Reconstruction and Development (EBRD) has joined forces with South Korean company Hyundai Rotem, a rolling stock manufacturer, to provide certified training to 80 unemployed young Egyptians. This training will focus on work related to the maintenance of rolling stock for line 2 of the Cairo metro, a major infrastructure project that the EBRD supported in 2016 with a loan of 100 million euros.
Bank financing was intended for the purchase of rolling stock, including spare parts and maintenance equipment, but it also came with a commitment to support a youth training program. We are now moving on to the realization phase. The program includes a theoretical part and practical on-site training.
This organization should allow trainees to acquire relevant skills and practical experience in the management of rolling stock. It is also intended to facilitate their access to employment in Egypt in labor-intensive sectors such as the metro, railways and public services. Upon completion of training and successful completion of a written exam, trainees will receive certification.
The training, which was designed by Hyundai Rotem, will be delivered by local and international staff. Last spring, The National Egyptian Railway Industries Company and the Egyptian Ministries of Transport and Planning and Economic Development signed a memorandum of understanding with the Hyundai Rotem. The goal for the South Korean company is to support the Egyptians in local manufacture of rail vehicles with an emphasis on technology transfer.
Egypt is targeting a 25% localization rate within two years for the manufacture of electric traction metro and train sets. This figure could rise to 50% in the next four years, reaching 75% in 2027.
Egypt has ordered 32 air-conditioned cars from Hyundai Rotem for line 3 of the Cairo metro.
Some should be made locally. Hyundai Rotem is a South Korean company that manufactures railway rolling stock, defense products and factory equipment. It is part of the Hyundai Motor group.
Egypt is a founding member of the EBRD. Since the start of its operations in the country in 2012, the Bank has invested more than 8 billion euros in 136 projects.