Dec 2020 Samcrete Holding consortium member of The National Egyptian Railway Industries Company (NERIC)
Samcrete Holding ends 2020 by signing an agreement as a part of the consortium to set up The National Egyptian Railway Industries Company (NERIC), the new company is specialized in producing and refurbishing rolling stock. The agreement was signed by The Suez Canal Economic Zone, Egypt Sovereign Fund, East Port Said Development Company, and the private sector partners: Samcrete Holding, Hassan Allam Holding, Orascom Construction, and Connect Management.
NERIC targets to bring and localize the know-how of railway industries to Egypt, and to export regionally and internationally. NERIC is an industrial base, technologically and logistically equipped, established to receive international companies to produce locally at a rate that will reach 40% of local component products.