BERLIN, (Reuters) – Egypt and Siemens have signed a deal to jointly build approximately 2,000 kilometres in high-speed railways. The German company announced this Saturday.

Siemens stated that the agreement between Egypt’s National Authority for Tunnels, and a consortium made up of Orascom Construction (Sirius Mobility), Arab Contractors, and Orascom Construction will make it the sixth most powerful high-speed railway system in the world.

Siemens also stated that the subsidiary of the project’s value is 8.1 billion Euros ($8.69 Billion). This includes the initial contract for 2.7 billion euro to build the first line, which was signed Sept. 1, 2021.

($1 = 0.9322 euros)