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CAIRO: Egypt’s National Railways Industry Company has signed an agreement with South Korea’s Hyundai Rotem to modernize Cairo’s metro system. The signing ceremony was attended by Egyptian Minister of Transport Kamel El-Wazir, Minister of Planning and Economic Development Hala El-Saeed, South Korean Ambassador to Egypt Hong Jin-Wook and chairman of the National Authority for Tunnels Essam Wali. El-Wazir said that the agreement will include the manufacturing of more than 800 metro cars and the supply of new lines, which comes as part of the modernization of the first and second Cairo metro lines. He added that under the first phase of the agreement, local components will make up 29.9 percent of metro cars in the first two years, rising to 50 percent in the following couple of years, and then jumping to 75 percent after six years.

Al qahirahSuez canalAs suwaysHong jin wookKamel el wazirNagei hamadiHala el saeedEssam waliEconomic development hala el saeedSovereign fund of egyptSuez canal authorityEgypt national railways industry companyNational railways industry companySouth koreaHyundai rotemEgyptian minister