Latest news with #Kamelal-Wazir
Business Insider
3 days ago
- Business
- Business Insider
Planning completed for $4 billion bridge linking Africa and Asia, construction set to begin
The governments of Saudi Arabia and Egypt have unveiled a groundbreaking, multibillion-dollar bridge project that will connect Africa and Asia across the Red Sea. Saudi Arabia and Egypt are collaborating on the "Moses Bridge" project connecting Africa and Asia. The bridge, with a projected cost of $4 billion, will span the Strait of Tiran, linking Ras Hamid in Saudi Arabia to Egypt's Sharm El-Sheikh. Originally announced in 2016, the bridge has completed its planning phase and awaits implementation. Although it was originally unveiled by Saudi Arabia's King Salman in 2016, the bridge is expected to cost around $4 billion, fully financed by the Kingdom and would link Saudi Arabia's Ras Hamid with Egypt's Sharm El-Sheikh, spanning the Strait of Tiran. According to The Sun UK, the ambitious project, dubbed the " Moses Bridge," has taken a significant step forward with Egypt confirming the completion of its planning phase. Egypt's Minister of Transport, Kamel al-Wazir, revealed in the past week that all planning work has been finalized. 'We have now completed the planning for the bridge between Egypt and Saudi Arabia and are ready to implement it at any time—whether as a bridge or a tunnel,' al-Wazir said. Currently, maritime transport between the two countries is managed by the Arab Bridge Maritime Company, which operates a fleet of 13 cargo and passenger vessels. Bridge to boost futuristic pilgrimage The new bridge, however, is expected to significantly enhance logistics, tourism, and trade in the region. The bridge will complement Saudi Arabia's NEOM development, an ambitious futuristic city project situated near the Kingdom's northwestern borders. It will provide an alternative pilgrimage route to Mecca, potentially serving over a million travelers annually. The project has been hailed as a historic feat of engineering and diplomacy. In 2016, Egyptian President Abdel Fattah el-Sisi suggested naming the structure "King Salman bin Abdulaziz Bridge" after the Saudi monarch. However, the public has affectionately dubbed it the "Moses Bridge" due to its symbolic location and cultural significance. Notably, earlier plans for a Red Sea bridge have been discussed since 1988, but have been delayed and stalled due to political hesitations. Meanwhile, Saudi Arabia's NEOM project, estimated to cost a staggering $500 billion, continues to face intense global scrutiny. Conceived as a futuristic, tech-driven city, the venture has been marred by delays, internal controversies, and criticism over human rights concerns. Behind NEOM's gleaming façade, critics have raised alarms about troubling practices. The Moses Bridge, however, may offer a more unifying vision—one that seamlessly blends symbolism, strategy, and regional development into a single structure spanning continents.
Business Recorder
26-05-2025
- Business
- Business Recorder
Egypt working to integrate railways into Asia-Europe trade
CAIRO: Egypt is working to integrate the country into a railway network connecting Asia and Europe, but a long-planned bridge that would link Saudi Arabia to Egypt's Sinai Peninsula has yet to be finalised, transport minister Kamel al-Wazir said on Sunday. Egypt has been expanding its railways along seven separate axes, he said. These include three high-speed lines that would connect Sokhna Port on the Red Sea with the Mediterranean and Alexandria in the north and with Aswan in the far south. Israel and Iraq have likewise been spending billions of dollars on rail lines with an eye towards tapping the east-west trade. All the plans involve loading cargo onto ships for part of the journey. 'We have now completed the planning for the bridge between Egypt and Saudi Arabia and are ready to implement it at any time - whether a bridge or a tunnel,' Wazir told Reuters on the sideline of an economic conference organised by the American Chamber of Commerce in Egypt. 'But the (current) solution for connecting Egypt with Saudi Arabia and Jordan is through the Arab Bridge Maritime Co. which currently has 13 vessels that can take cargo between Saudi Arabia, Jordan and Egypt.' Saudi Arabia's King Salman announced during a visit to Egypt in 2016 the idea for a bridge, which would complement a mega-city and business zone called NEOM the Saudis were building across the Straits of Tiran.
Egypt Independent
23-04-2025
- Business
- Egypt Independent
Egypt to receive first Velaro high-speed electric train in August
Egypt is set to receive its first high-speed Velaro electric train in August, which will be designated for the first line of the high-speed electric train network, Egypt's State Information Service (SIS) reported. The announcement was made during a Monday inspection tour by Minister of Industry and Transport Kamel al-Wazir, who reviewed the first line of the high-speed electric train network (Sokhna/ el-Alamein/ Matrouh), spanning the distance from Mohamed Naguib Station to October Station. The minister monitored the finishing touches at Mohamed Naguib Station, the platforms, and the ticket halls, which serve the Katameya, New Cairo, and new urban areas south of the Ain Sokhna Road. According to the SIS report, five Velaro trains have already been fully manufactured. Egypt has also received the first Desiro regional train from Siemens' factories in Germany, with 14 more completed for a total of 34 ready trains. 'The high-speed rail network is expected to generate thousands of direct and indirect job opportunities. When complete, it will comprise three lines with a combined length of 2,000 kilometers, 60 stations, two main depots, and five maintenance points. The rolling stock fleet will include 41 high-speed trains, 94 regional trains, and 41 freight locomotives,' the SIS report explained. The first high-speed electric train line will extend from Ain Sokhna to Matrouh, passing through the new administrative capital, Cairo, Sixth of October City, Borg El Arab, and El Alamein. This network is of great importance for the transportation of passengers and goods, and will contribute to reducing carbon emissions. The high-speed electric train will be able to reach Cairo from Qena in 150 minutes, Aswan from Qena in 40 minutes, and Hurghada from Qena in 30 minutes.
Egypt Independent
08-04-2025
- Business
- Egypt Independent
Egypt signs 9 financing agreements with French Development Agency at value of €262.3 mln
CAIRO, April 7 (MENA) – Egypt has signed nine financing agreements with the French Development Agency (AFD) on the sidelines of French President Emmanuel Macron's current high-level official visit to Cairo. Valued at a total of 262.3 million euros worth of loans and grants, the agreements signed reflect the strength and diversity of the long-standing partnership between Egypt and France. The signing ceremony was attended by Minister of Transport and Industry Kamel al-Wazir, Minister of Health and Population Khaled Abdel Ghaffar, Minister of Planning, Economic Development and International Cooperation Rania al-Mashat, Minister of Electricity and Renewable Energy Mahmoud Esmat, Minister of Housing, Utilities and Urban Communities Sherif al-Sherbiny, as well as a number of French ministers. The agreements, which cover three top-priority sectors: transport, water, and energy, include high-impact projects that reflect the diversity of cooperation between Egypt and France. These projects constitute nearly half of the commitments included in the Intergovernmental Agreement (IGA) for the period 2021-2025. By leveraging the technical expertise and know-how of French companies, the AFD Group invests in projects with a tangible impact to achieve shared prosperity. Since 2006, the AFD Group has been a key player in France-Egypt cooperation. Its activities support economic, social, and environmental transformations in Egypt in line with the UN's Sustainable Development Goals and Egypt Vision 2030. (MENA)
Egypt Independent
26-03-2025
- Business
- Egypt Independent
PM attends signing of $1.65 bln metal industries complex deal
Prime Minister Mostafa Madbouly attended the signing of a $1.65 billion contract to establish the Shin Feng Integrated Metal Industries Complex in the Ain Sokhna industrial zone, part of the Suez Canal Economic Zone. The deal was signed at the Cabinet headquarters in the New Administrative Capital, in the presence of Vice Prime Minister for Industrial Development and Minister of Industry and Transport Kamel al-Wazir. The project will be built in two phases over five years on 3.75 million square meters. It includes nine factories and two service centers—one for research and development and another for solid waste recycling. The complex is expected to provide around 8,000 direct jobs. The first phase, set for completion by 2027, covers two million square meters and includes four factories producing auto components, metal parts for appliances, fasteners, and hot-rolled steel. This stage is expected to create over 4,400 jobs. The second phase will span 1.75 million square meters and includes five factories for machinery parts, brake discs, structural steel, alloy car parts, and cold-rolled steel, in addition to the two service centers. Trial operations are set to begin between January 2029 and March 2030, adding another 3,500 jobs. The agreement was signed by officials from Egypt's General Authority for the Suez Canal Economic Zone and the Industrial Development Authority, alongside executives from Xin Feng Egypt and its Chinese parent company.
