Egypt is set to launch trial operations of its monorail mission in October. The monorail will make the most of eco-friendly electrical vitality, which is anticipated to decrease gasoline consumption and scale back air pollution charges.
The announcement was made throughout a latest assembly between Kamel El-Wazir, Egypt’s Minister of Business and Transport, and Gareth Bailey, the British Ambassador to Cairo on Sunday, 8 September. The 2 officers mentioned the significance of ongoing collaboration in numerous sectors, together with industrial improvement, inexperienced hydrogen, and renewable vitality.
El-Wazir emphasised Egypt’s dedication to increasing cooperation with the UK, highlighting the potential for joint ventures in industrial improvement. In the meantime, Ambassador Bailey famous the sturdy curiosity from British corporations in contributing to Egypt’s inexperienced vitality initiatives.
The discussions additionally touched on the activation of the 2022 Industrial and Commerce Partnership Settlement between Egypt and the UK, which was designed to spice up bilateral commerce, encourage funding, and foster collaborations in sectors akin to manufacturing, infrastructure, and vitality.
As for the 2021 Memorandum of Understanding (MoU) on Know-how and Superior Industries between Egypt and the UK, it goals at deepening cooperation in fields like digital transformation, synthetic intelligence, cybersecurity, and different rising applied sciences.
The funding and building of the mission, led by Orascom Development and the Arab Contractors, secured GDP1.7 billion (EGP 64.6 billion) from UK Export Finance for the Monorail mission
