At the EU-Egypt Investment Conference in Cairo, Italy showcased its dedication to advancing Egypt's infrastructure and sustainable transportation through a series of significant accords. These partnerships, valued at over €1 billion, fall under the 'Mattei Plan for Africa,' which emphasizes collaboration between Italy and African nations.
One noteworthy agreement involves the creation of Egypt's inaugural luxury tourist train, the "Guardian of the Nile," through a joint effort between Arsenale SpA and Egypt National Railways (ENR). This train, entirely manufactured in Italy, will offer an opulent travel experience, showcasing the nation's rich cultural heritage.
Moreover, MERMEC SpA and ENR will collaborate on modernizing Egypt's railway signaling system, enhancing safety and reducing emissions. This aligns with Egypt's Vision 2030 plan and the European Green Deal's focus on sustainability.
SACE, the Italian Export Credit Agency, has also pledged substantial support through two Memoranda of Understanding with Egypt's Ministry of Transport and Commercial International Bank. These agreements, totaling €920 million, will facilitate sustainable transportation projects and bolster Italian exports.
Furthermore, Italian firm Movyon and Egyptian counterpart Elsewedy will jointly develop smart and sustainable mobility solutions, including a new company to oversee intelligent transport systems on Egyptian highways. This ten-year venture represents a €200 million investment.
Italian Ambassador to Cairo, Michele Quaroni, underscored Italy's commitment to responsible investment in Egypt, highlighting these projects as concrete examples of mutually beneficial cooperation under the 'Mattei Plan.' This comprehensive approach not only modernizes Egypt's infrastructure but also promotes environmental sustainability and technological innovation, fostering economic growth in both nations.
