The announcement was made on September 16 during a meeting between the minister of planning and economic development, Dr Hala El-Said, transport minister Major General Kamel El-Wazir and chairman of the Suez Canal Economic Zone Authority, Mr Yahia Zaki, to discuss how the project will be implemented and the likely output of the factory.
Egyptian Railways Services and Maintenance Company (Ermas) is expected to run the new plant in partnership with the private sector including several international companies, the Suez Canal Economic Zone, and Egypt’s Sovereign Fund.
El-Wazir sees the factory as part of an initiative to localise railway equipment production to meet growing demand both domestically and in Africa and on the Arabian peninsula. El-Wazir believes the new factory will boost Egypt’s economy, generate hard currency and expand the job market.
