By Pierre Bertrand

Voestalpine AG said Tuesday that it has signed a joint-venture agreement with Egyptian National Railways for the production of rail infrastructure.

Both companies will produce high-performance turnouts--or railroad switches--as part of the agreement, signed on Sunday, the Austrian steel company said.

Egypt is set to invest heavily in its rail network and has planned the construction of more than 1,800 kilometers of high-speed rail lines, Voestalpine said.

Voestalpine said it will work with ENR to develop its existing site in Cairo into a modern plant.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

July 05, 2022 04:23 ET (08:23 GMT)