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Siemens Mobility inks $8.7 billion deal for high-speed rail in Egypt

admin by admin
May 30, 2022
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Siemens Mobility inks $8.7 billion deal for high-speed rail in Egypt
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The train passes through the Egyptian station. Projects involving Siemens Mobility will use trains that can reach a top speed of 230 km / h and the line will be fully electrified.

Paul Vinten | Istock | Getty Images

A new high-speed rail is arriving in Egypt, and developer Siemens Mobility states that it will connect 60 cities across the country.

On fully electrified lines, you can see trains with a top speed of 230 km / h, traveling from the Red Sea to destinations such as the Mediterranean Sea.

According to Siemens Mobility, the electrification of networks will reduce carbon emissions by 70% compared to traveling by bus or car. He added that the project would be the “sixth largest high-speed rail system” in the world.

Siemens Mobility — an independently managed industry leader Siemens — Signed an agreement to develop a railway line between Egypt’s National Tunnel Authority and its consortium partner Arab Contractors and Orascom Construction.

In a statement on Saturday, Siemens Mobility said the integration agreement would have a share of € 8.1 billion, or about $ 8.7 billion. This figure includes a € 2.7 billion contract signed in September 2021 for the first line of the project.

Egypt’s new network consists of three parts. A previously announced 660-kilometer line connecting Einsokna in the Red Sea with Alexandria and Marsama Truu on the Mediterranean coast of Egypt. A line of approximately 1,100 kilometers between Cairo and Abu Simbel, near the border with Sudan. A range of 225 kilometers between Luxor and Hurghada on the Red Sea.

Michael Peter, CEO of Siemens, said: Mobility said.

Read more about energy from CNBC Pro

The International Energy Agency describes railroads as “one of the most energy efficient modes of transportation.” According to the IEA, it accounts for 9% of the world’s electric passenger movements and 7% of freight, but only 3% of transportation energy consumption.

However, it relies heavily on oil, which will account for 55% of the sector’s total energy consumption in 2020. By 2050, the IEA’s scenario for a net-zero energy system should reduce oil usage on rail to “nearly.” By the middle of the century it was “zero” and was replaced by electricity (most of the rail energy demand) and hydrogen.

In terms of hydrogen, Siemens Mobility is one of several companies that have been working on hydrogen trains.Others include East Japan Railway Company and European railway manufacturers. AlstomAlready carrying German and Austrian passengers by hydrogen train.

Tags: AfricaAir pollutionAlexandriaAlstom SAAlternative and sustainable energybillionBusiness newsCairoclimateClimate changedealEgyptenergyenvironmenthighspeedinksMediterraneanmobilityNorth AfricapollutionrailRed SeaRenewable energySiemensSiemens AGSudanTrain journeyTransportationwork
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