Egyptian transportation minister, Hany Dahy affirmed on Monday that Egypt finalized the deal with Chinese government and holding company Aviation Industry Corporation of China (AVIC) to implement the high-speed train project in Egypt. Dahy added, during a press conference, that the deal includes the funding and execution of the project by the Chinese side. The minister revealed that Sisi also made a deal with Chinese corporates to take part in the renovation and development process of Egyptian railways, adding that railways in Egypt are dilapidated and need intensive work to bring them up to par. Sisi visited China last week to tighten Egyptian-Chinese bilateral relations, and make comprehensive strategic partnership agreements with large Chinese companies. Dahy had stated previously that the high-speed train project is to link Cairo-Alexandria and Aswan. The budget of the first stage between Cairo and Alexandria is estimated at $3 billion, and will take 3 years to be ready for commuters.
