( 3 minutes read)
· Egypt’s Ministry of Transportation, the Ministry of Planning, and the National Egyptian Railway Industries Company signed a Memorandum of Understanding (MoU) with South Korean Hyundai Rotem to localize train industry and transfer the South Korean technology
· The project aims at exporting subway cars made in Egypt to the third countries as well as strengthening Egypt’s capability in the transportation infrastructure
· Egypt is looking forward to deepen its strategic cooperation in various fields including energy, infrastructure, health, ICT and defend industries
Egypt’s Ministry of Transportation, the Ministry of Planning, and the National Egyptian Railway Industries Company signed a Memorandum of Understanding (MoU) with South Korean Hyundai Rotem to localize the train industry and transfer the South Korean technology.
The signing ceremony was attended by South Korean ambassador in Egypt Jin-wook Hong, Egyptian Minister of Transportation Kamel al-Wazir, and Egyptian Minister of Planning Hala Elsaid.
The MoU is the result of a discussion between Egyptian President Abdel Fattah Al-Sisi and Chairperson and CEO of Hyundai Rotem Yong-Bae Lee, which took place sometime in the past to facilitate the joint cooperation between Hyundai Rotem and NERIC to help Egypt localize the railway industry. Egyptian president is keen to establish strategic cooperation with Korea especially in the heavy industries sector that depends on labor intensity and advanced technology for industrial localization and technology transfer.
The project aims at exporting subway cars made in Egypt to the third countries as well as strengthening Egypt’s capability in the transportation infrastructure. Egypt is looking forward to deepen its strategic cooperation in various fields including energy, infrastructure, health, ICT and defence industries.
