Egypt's Minister of Transport, Hani Sayed Mohamed Dahi, and the Minister of Economy and Competitiveness, Luis de Guindos, today signed a Memorandum of Understanding in Madrid to study the creation of a high-speed rail corridor between the Egyptian cities of El Cairo and Luxor. The studies may be funded by the Fund for Internalization of the Company (FIEM) managed by the Ministry of Economy.
The Memorandum signed today will be a first step to develop technological cooperation between the two countries.
The Egyptian Government has a strong interest in modernizing the country's rail networks and, in particular, in promoting high speed. Spain, meanwhile, offers a recognized international experience and knowledge in the field of high speed.