Aug 2022 The National Egyptian Railway Industries Company (NERIC) signs a USD 656 Mn contract to locally produce rolling stock for the Cairo metro
Aug 2022 The National Egyptian Railway Industries Company (NERIC) signs a USD 656 Mn contract to locally produce rolling stock for the Cairo metro
Samcrete -as a one of the founding partners of the National Egyptian Railway Industries Company- is thrilled to share the news of signing a USD 656 mn contract to locally produce rolling stock for the Cairo metro, yesterday, between Hyundai Rotem and the National Egyptian Railway Industries Company (NERIC).
Under the agreement, the South Korean railway equipment manufacturer will produce 40 trains comprising 320 carriages for Metro lines 2 and 3. The firm will also provide maintenance services for eight years.
NERIC was set up in late 2020 as a JV between the Sovereign Fund of Egypt, the Suez Canal Economic Zone, East Port Said Development, Hassan Allam, Samcrete, Connect, and Orascom Construction.