A series of agreements worth close to EUR 1 billion (920 million) was signed this morning in Cairo between Italian companies and institutions and their Egyptian partners. The signing took place on the sidelines of the EU-Egypt investment conference, and is part of the strengthening of cooperation between Italy and Egypt for the development of infrastructure and sustainable mobility, in the framework of the Mattei Plan. The signing was attended by the Egyptian Minister of Transport, Kamel el Wazir, and the Italian Ambassador to Cairo, Michele Quaroni. Egyptian President Abdel Fattah Al Sisi and European Commission President Ursula von der Leyen attended the conference yesterday, consolidating the March agreements for a strategic partnership between the EU and Egypt.
Arsenale S.p.A. and the Egyptian Railway Authority (Egypt National Railway (ENR)) have signed an agreement for the creation of Egypt's first Made-in-Italy luxury tourist train, the 'Guardian of the Nile', a total investment of around €150 million, hailed by Egypt's Minister of Transport, Kamel Al Wazir as a hope for a "significant qualitative transformation for Egypt, improving the country's tourism and railway sector."
Mermec S.p.A. and Enr, on the other hand, signed a contract worth around €130 million for the development of an advanced railway signalling system on the Al Ferdan- Bir Al Abd and Balouza- East Port Said maritime corridors. This EUR 130 million project is essential to connect the East Port Said station with the rest of the rail network, improving safety and reducing CO2 emissions, in line with the Egypt Vision 2030 plan and the European Green Deal. Mermec, with the support of Italian institutions, plans to locate a centre of excellence for signalling and infrastructure design in Egypt, further consolidating its presence in the country.
Sace, an export credit agency and Italian financial insurance group owned by the Ministry of Finance, has also finalised two Memorandums of Understanding with the Egyptian Ministry of Transport and the Commercial International Bank (Cib).
These agreements, worth a total of EUR 920 million, aim to support environmentally friendly transport projects and facilitate Italian exports through export credit insurance and guarantee programmes. Michal Ron, SACE's Chief International Business Officer, highlighted the importance of these initiatives in creating opportunities for sustainable economic development in both Egypt and Italy.
Finally, the Italian Movyon and the Egyptian ElSewedy signed a memorandum to develop smart and sustainable mobility solutions. The collaboration includes the creation of a new company to manage the maintenance and operation of intelligent transport systems on Egyptian highways for a period of 10 years, with an investment of EUR 200 million. "This strategic agreement," says Lorenzo Rossi, Movyon's CEO, "will improve traffic management and road safety on the country's main transport routes, bringing the most advanced technological standards on the global market to Egypt's highways.
"These projects confirm Italy's commitment to supporting the growth and modernisation of Egypt's infrastructure, while promoting environmental sustainability and technological innovation. This is a concrete way of investing in Egypt in a responsible manner and to the benefit of both markets, Italian and Egyptian, in line with the Mattei Plan launched by President Meloni,' said the Italian Ambassador to Cairo, Michele Quaroni.
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