Egypt is set to launch trial operations of its monorail project in October. The monorail will utilize eco-friendly electric energy, which is expected to lower fuel consumption and reduce pollution rates.
The announcement was made during 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 importance of ongoing collaboration in various sectors, including industrial development, green hydrogen, and renewable energy.
El-Wazir emphasized Egypt’s commitment to expanding cooperation with the UK, highlighting the potential for joint ventures in industrial development. Meanwhile, Ambassador Bailey noted the strong interest from British companies in contributing to Egypt’s green energy initiatives.
The discussions also touched on the activation of the 2022 Industrial and Trade Partnership Agreement between Egypt and the UK, which was designed to boost bilateral trade, encourage investment, and foster collaborations in sectors such as manufacturing, infrastructure, and energy.
As for the 2021 Memorandum of Understanding (MoU) on Technology and Advanced Industries between Egypt and the UK, it aims at deepening cooperation in fields like digital transformation, artificial intelligence, cybersecurity, and other emerging technologies.
The funding and construction of the project, led by Orascom Construction and the Arab Contractors, secured GDP1.7 billion (EGP 64.6 billion) from UK Export Finance for the Monorail project
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