Mermec: new Italy-Egypt agreements for infrastructure and mobility under the ‘Mattei Plan for Africa’
July 01 2024 - 7:29AM
Mermec: new Italy-Egypt agreements for infrastructure and mobility
under the ‘Mattei Plan for Africa’
During the EU-Egypt Investment Conference currently underway in
Cairo and opened by Egyptian President Abdel Fattah El-Sisi, Italy
announced significant initiatives in the fields of infrastructure
and sustainable mobility, in line with the 'Mattei Plan for
Africa'. The signing of the agreements was attended by the Egyptian
Minister of Transport, Kamel Al-Wazir, and the Italian Ambassador
to Cairo, Michele Quaroni.
Arsenale SpA and the Egyptian National Railways (ENR) have
signed an agreement to create Egypt’s first Made-in-Italy luxury
tourist train, the 'Guardian of the Nile'. MERMEC SpA and ENR
signed a contract for the development of the ECTS Level 1 railway
signalling system on the Al-Fardan - Bir al-Abd and Balouza - East
Port Said lines. This project, worth 130 million euros, is
essential for connecting the East Port Said station with the rest
of the railway network, enhancing safety and reducing CO2
emissions, in line with the 'Egypt Vision 2030' plan and the
European Green Deal. MERMEC, with the support of Italian
institutions, plans to establish a centre of excellence for
signalling and infrastructure design in Egypt, further
consolidating its presence in the country. SACE, the Italian Export
Credit Agency, has also finalised two important Memoranda of
Understanding with the Egyptian Ministry of Transport and the
Commercial International Bank (CIB). These agreements, totalling
920 million euros, aim to support low-impact transportation
projects and facilitate Italian exports through export credit
insurance and guarantee programmes. Additionally, the Italian
company Movyon and the Egyptian company Elsewedy have signed a
Memorandum of Understanding develop smart and sustainable mobility
solutions. The collaboration involves the creation of a new company
to manage the maintenance and operation of intelligent transport
systems on Egyptian highways for a period of 10 years, with an
investment of 200 million euros.
"These four projects confirm Italy's commitment to supporting
the growth and modernisation of Egyptian infrastructure, while also
promoting environmental sustainability and technological
innovation. This is a concrete way to invest in Egypt responsibly
and to the benefit of both markets, Italian and Egyptian, in line
with the ‘Mattei Plan’ launched by Prime Minister Meloni," said the
Italian Ambassador to Cairo, Michele Quaroni.
For more information:Press Office LaPresse -
ufficio.stampa@lapresse.it
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/c910c288-3140-4100-91c9-ad66db14e4c8