{"id":548887,"date":"2022-08-25T04:00:15","date_gmt":"2022-08-25T04:00:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/25\/hyundai-rotem-signs-usd-656-mn-agreement-to-locally-produce-rolling-stock-for-the-cairo-metro\/"},"modified":"2022-08-25T04:00:15","modified_gmt":"2022-08-25T04:00:15","slug":"hyundai-rotem-signs-usd-656-mn-agreement-to-locally-produce-rolling-stock-for-the-cairo-metro","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/25\/hyundai-rotem-signs-usd-656-mn-agreement-to-locally-produce-rolling-stock-for-the-cairo-metro\/","title":{"rendered":"Hyundai Rotem signs USD 656 mn agreement to locally produce rolling stock for the Cairo Metro"},"content":{"rendered":"

<\/a> Hyundai <\/strong>Rotem has signed a USD 656 mn contract to locally produce rolling <\/strong>stock for the Cairo metro<\/strong>, the Transport Ministry said in a statement<\/a> yesterday. Under the agreement, the South Korean railway equipment manufacturer will produce 40 trains comprising 320 carriages for Metro lines 2 and 3 alongside the National Egyptian Railway Industries Company (NERIC). The firm will also provide maintenance services for eight years, the ministry said.<\/p>\n

This has been in the works for more than a year:<\/strong> Hyundai Rotem signed an initial MoU<\/a> with NERIC in May 2021 and a framework agreement<\/a> six months later.<\/p>\n

Hyundai Rotem is no stranger to the Metro:<\/strong> The company has supplied 48 trains for all three of Cairo\u2019s metro lines in the past, the statement said.<\/p>\n

This is part of Project Localize: <\/strong>The agreement comes as part of the government\u2019s plans to localize the railcar manufacturing industry. Under the contract, 30% of the components used will be sourced from local suppliers, the ministry said. The government plans<\/a> to reach a 25% local component quota for the nation\u2019s railway system over the next two years as part of a six-year plan signed off by Ittihadiya. The strategy would see the local component quota at 50% after four years and 75% at the end of the six-year period.<\/p>\n

Refresher:<\/strong> NERIC was set up in late 2020 as a JV between the Sovereign Fund of Egypt, the Suez Canal Economic Zone, the Transport Ministry, East Port Said Development, Hassan Allam, Samcrete, and Orascom Construction. The company was established as part of a state-led bid<\/a> to localize the rail industry and specializes in producing and refurbishing rolling stock. Hyundai Rotem partnered with the JV last year to help transfer technology to Egypt, manufacture railway cars, signaling systems, and control and driving equipment, in addition to providing railway engineering services.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hyundai Rotem has signed a USD 656 mn contract to locally produce rolling stock for the Cairo metro, the Transport Ministry said in a statement yesterday. Under the agreement, the South Korean railway equipment manufacturer will produce 40 trains comprising 320 carriages for Metro lines 2 and 3 alongside the National Egyptian Railway Industries Company […]<\/p>\n","protected":false},"author":1,"featured_media":548888,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7261],"tags":[72,418,2268,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transport","tag-enterpriseam","tag-hyundai-rotem","tag-national-egyptian-railway-industries-company","tag-transport","wpautop","entry"],"acf":{"mongo_id":"5fd7dabd-20a9-474b-9d82-e356326d1cfc","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/8\/393.jpg","photo_position":"above","related_issue":[548874],"teaser":"","voice_url":""},"yoast_head":"\nHyundai Rotem signs USD 656 mn agreement to locally produce rolling stock for the Cairo Metro - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/25\/hyundai-rotem-signs-usd-656-mn-agreement-to-locally-produce-rolling-stock-for-the-cairo-metro\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hyundai Rotem signs USD 656 mn agreement to locally produce rolling stock for the Cairo Metro\" \/>\n<meta property=\"og:description\" content=\"Hyundai Rotem has signed a USD 656 mn contract to locally produce rolling stock for the Cairo metro, the Transport Ministry said in a statement yesterday. 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The company will set up plants in Egypt to manufacture railway cars, signaling systems, and control\u2026","rel":"","context":"In "Transport"","block_context":{"text":"Transport","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/transport\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/24.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565919,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/17\/big-plans-for-railway-manufacturing-in-the-sczone\/","url_meta":{"origin":548887,"position":1},"title":"Big plans for railway manufacturing in the SCZone","author":"enterpriseam admin","date":"17 May 2021","format":false,"excerpt":"Four foreign companies have bid to partner on a facility that will produce rail cars in the Suez Canal Economic Zone (SCZone), Al Mal reports, citing sources familiar with the matter. 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NERIC is currently still building\u2026","rel":"","context":"In "Transport"","block_context":{"text":"Transport","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/transport\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/296.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599586,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/03\/hyundai-rotem-wins-usd-134-5-mn-bid-to-supply-egypt-with-metro-cars\/","url_meta":{"origin":548887,"position":3},"title":"Hyundai Rotem wins USD 134.5 mn bid to supply Egypt with metro cars","author":"enterpriseam admin","date":"3 January 2019","format":false,"excerpt":"Hyundai Rotem lands USD 134.5 mn contract to supply metro cars: Hyundai Rotem has landed a USD 134.5 mn contract to supply Egypt with 48 air-conditioned cars for line two of the Cairo Metro by 2021, South Korea\u2019s Pulse News reports. The agreement will be funded via a facility fund\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":595836,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/07\/egypt-signs-contract-for-metro-trains-and-locomotives-with-hyundai-rotem-socofer\/","url_meta":{"origin":548887,"position":4},"title":"Egypt signs contract for metro trains and locomotives with Hyundai Rotem, Socofer","author":"enterpriseam admin","date":"7 August 2019","format":false,"excerpt":"The National Tunnels Authority signed two contracts with South Korea\u2019s Hyundai Rotem and France\u2019s Socofer to provide 6 new metro trains and 2 locomotives for line 2 of the Cairo metro,according to a Transport Ministry statement. Hyundai will provide the new trains at a cost of USD 131 mn and\u2026","rel":"","context":"In "Automotive + Transportation"","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594337,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/27\/hyundai-rotem-to-send-first-batch-of-air-conditioned-metro-cars-in-april\/","url_meta":{"origin":548887,"position":5},"title":"Hyundai Rotem to send first batch of air-conditioned metro cars in April","author":"enterpriseam admin","date":"27 October 2019","format":false,"excerpt":"Egypt will begin receiving in April 32 new air-conditioned metro cars in batches from Hyundai Rotem for the Cairo Metro Line 3, Transport Minister Kamel El Wazir said, according to a ministry statement. This is two months earlier than expected: the National Tunnel Authority said last month that the cars\u2026","rel":"","context":"In "Automotive + Transportation"","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548887","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=548887"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548887\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/548874"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/548888"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=548887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=548887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=548887"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=548887"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=548887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}