Deputy Prime Minister and Minister of Industry and Transport Kamel el Wazir held talks with South Korean Ambassador to Egypt Kim Yong-Hyun on means to boost co-operation in the industrial and transport sectors.
At the start of their meeting Wazir praised the fruitful co-operation between the two countries, expressing hope to further develop it in all domains.
The ambassador highlighted the depth of Egyptian-South Korean relations, asserting the interest of the government and companies in his country to promote cooperation in the future in many areas, including manufacturing and transport.
The two sides reviewed the progress achieved in joint ventures, including in the railway sector, such as the project to modernise signaling and communications systems on the Naga Hammadi/Luxor line, with a length of 118 km, and the project to modernize signaling and communications systems, and railway engineering works on the Luxor/High Dam line, with a length of 224 km, as well as joint collaboration in the underground metro development, such as co-operation in the field of localisation of the train industry through the manufacture and supply of 40 new trains, comprising 320 vehicles, for Cairo metro lines 2 and 3 in partnership between the South Korean Hyundai Rotem Company and the National Egyptian Railway Industry Company (NERIC) at NERIC factory in East Port Said.
They also discussed progress in implementing a project with Korean manufacturer Hyundai Rotem to design, manufacture and supply 30 new trains to Egypt and an eight-year contract for maintenance of trains.
The two sides underlined the need to intensify meetings in the coming period between the Egyptian side and the heads of Samsung, LG and Hyundai Rotem companies to explore ways to increase the volume of their investments in the field of industry and discuss the support needed to expand their activities in the Egyptian market, especially in light of a national plan to localize various industries in Egypt.
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