Egypt plans to commence trial operations of its monorail project in October. The monorail will run on eco-friendly electric energy, which is expected to decrease fuel consumption and lower pollution levels.
The announcement was made in a recent meeting between Kamel El-Wazir, Egypt’s Minister of Industry and Transport, and Gareth Bailey, the British Ambassador to Cairo, on Sunday, 8 September. The two officials discussed the significance of ongoing collaboration in multiple areas, including industrial development, green hydrogen, and renewable energy.
El-Wazir stressed Egypt’s dedication to expanding cooperation with the UK, underscoring the potential for joint ventures in industrial development. Meanwhile, Ambassador Bailey highlighted the strong interest of British companies in contributing to Egypt’s green energy initiatives.
According to Egyptian Streets, the discussions also covered the activation of the 2022 Industrial and Trade Partnership Agreement between Egypt and the UK, which was created to enhance bilateral trade, promote investment, and promote collaborations in sectors such as manufacturing, infrastructure, and energy.
Regarding the 2021 Memorandum of Understanding (MoU) on Technology and Advanced Industries between Egypt and the UK, it aims to deepen cooperation in fields such as digital transformation, artificial intelligence, cybersecurity, and other emerging technologies.
The funding and construction of the project, led by Orascom Construction and the Arab Contractors, obtained GBP 1.7 billion (EGP 64.6 billion) from UK Export Finance for the Monorail project.
