$460 million for the implementation of the Hyundai Rotem project in Egypt

South Korea commits to allocate $460 million for the implementation of the Hyundai Rotem project in Egypt, as reported by the railway journal Railway Supply.

The funding will be provided by the Korea Economic Development Cooperation Fund under an agreement with Egypt for a total amount of $656 million.

According to the contract, 40 trains (320 carriages) will be supplied to the Cairo Metro by 2028.

The order will be executed jointly by Hyundai Rotem and the Egyptian national railway company Neric.

Some of the trains will be imported from South Korea, while others will be manufactured at a localized production site in Egypt.

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Neric and Hyundai Rotem have already signed a memorandum in May 2021, and six months later, they concluded a framework agreement to establish a partnership. The main objective of this partnership is the localization of rolling stock production in Egypt.

The construction of a joint factory in Port Said city is planned, which will create approximately 5,000 jobs.

According to the plan, the level of localization of rolling stock production for current orders should reach 75% within 3 years.

Hyundai Rotem: A Brief Overview

Hyundai Rotem is a South Korean company specializing in the production of various transportation equipment, including trains, locomotives, electric vehicles, and defense systems. It is a subsidiary of Hyundai Motor Group, one of the largest conglomerates in South Korea.

Hyundai Rotem has a strong presence in the global railway industry and has supplied trains and rolling stock to numerous countries worldwide. The company offers a wide range of railway products, including high-speed trains, metro trains, light trams, diesel-electric locomotives, and electric units.

With its experience in the railway sector, Hyundai Rotem focuses on delivering innovative and technologically advanced solutions to meet the specific needs of different markets. The company is known for its commitment to quality, safety, and environmental sustainability in its manufacturing processes.

Hyundai Rotem has participated in various railway projects around the world, collaborating with local partners and contributing to the development of transportation infrastructure. The company continues to expand its presence in the international market, offering comprehensive solutions for urban, suburban, and intercity railway systems.

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