Rania al-Mashat, Egyptian Minister of International Cooperation, met with Andrew Deleone, President of Alstom’s Africa, Middle East, and Central Asia (AMECA) area, to discuss the company’s plans for the electrification of Egypt’s railways and the provision of hydrogen as an alternative fuel.
Saturday in Cairo, Mashat met with Deleone to discuss partnership potential and the incorporation of climate change factors into transportation infrastructure.
Other themes, including the localization of industry, were also discussed, with potential cooperation opportunities with the Arab Organization for Industrialization and the SEMAF facility to produce mobile units for the sixth metro line in Egypt unlocked.
Mashat emphasized the significance of the transport sector as one of the sectors getting the greatest investment from multilateral and bilateral development partners, which is one of the national infrastructure development goals.
Private sector participation in development efforts has expanded in tandem with the growth of the transport industry.
The minister noted that the transport sector receives 25 percent of the overall funding supplied to the Egyptian government through official development assistance.
Mashat stated that Egypt is integrating and mainstreaming its National Climate Change Strategy with the 2030 national objective to cut carbon emissions and provide green employment possibilities for the populace.
According to Deleone, there is a promising market opportunity in Africa and the Middle East, and the Egyptian government has a clear strategic vision that outlines the necessary policies to meet national priorities, which makes it easier for development partners to provide financing for targeted sectors.
The financing proposal for the Sixth Metro Line project will be submitted by the end of July and presented during this year’s COP27 United Nations Climate Conference in Sharm el-Sheikh.