Egypt signs MoU with Siemens for $23bn high-speed train line

CAIRO: Egypt signed a memorandum of understanding with Germany’s Siemens on Thursday for construction of a $23 billion high-speed train line linking Egypt’s eastern and northern coasts, the cabinet said in a statement.
The electric rail line would run from Ain Sokhna on the Red Sea to New Alamein on the Mediterranean coast, passing through a new capital under construction in the desert east of Cairo.