The mobilization of financing is one of the key issues for the realization of railway projects announced or underway in Egypt. The growth dynamic of this economy and the sustainability models integrated into the projects nevertheless continue to inspire confidence among donors.
The Board of Directors of the Islamic Development Bank (IDB) has approved financing of 344.5 million in favor of Egypt for phase 1 of its electric express train project.
According to the information note published for this purpose, phase 1 concerns the construction of a 660 km line to connect the city of Ain Sokhna on the Red Sea to Marsa Matrouh and Alexandria on the Mediterranean.
This section is part of the 2,000 km high-speed line which will connect 60 cities and whose development was entrusted in May 2022 to the German conglomerate Siemens.
According to the route unveiled by Siemens for the other two phases, “the 2nd line will be approximately 1,100 km long and will connect Cairo to Abu Simbel near the Sudanese border, while the third line will cover approximately 225 km and will connect the sites World Heritage Archaeological Sites from Luxor to Hurghada by the Red Sea”.
According to the IDB, the completion of phase 1 should benefit 25 million people per year and reduce greenhouse gas emissions by about 250,000 tonnes of CO2 per year.