Minister of Investment and Foreign Trade Eng. Hassan El Khatib met with Eng. Karim Sami Saad, Board Member of the National Egyptian Railway Industries Company (NERIC) and the company's delegation, where they reviewed the company's project to establish an industrial complex for railway industries in Egypt, in the industrial zone in East Port Said in the Suez Canal Economic Zone.

The meeting reviewed the developments of the company's project to manufacture and maintain mobile units and related components using the latest technologies and international specifications in a manner that serves the state's goals of localizing strategic industries.

The project aims to localize the manufacture of metro and train cars through manufacturing within the factory, supporting local suppliers, in addition to attracting global automotive component manufacturers to invest in the Egyptian market and export to regional and global markets.

The current construction rate in the factory is 60% and production is expected to start in July of this year. The factory includes two production lines, one for producing metro cars with a localization rate of 35-40%, and the other for producing railway train cars with a localization rate of 65%, as the company aims to produce for the local market and export to foreign markets, especially the markets of the African continent.

The industrial complex of Neric Company represents the main cornerstone for implementing a comprehensive plan to develop and modernize the transportation system and railway industries in Egypt, as the company seeks to deepen and localize the railway industry in Egypt and benefit from global expertise in this field and transfer it to the Egyptian industry.

Egypt Today