Germany's Siemens Mobility has signed a deal to develop a new high-speed rail line in Egypt that would link 60 cities across the country.

  • The fully-electrified line will see trains with a top speed of 230 kilometers per hour travel from the Red Sea to the Mediterranean, among other destinations.
  • According to Siemens Mobility, it will reduce carbon emissions by 70% when compared to trips by bus or car.
  • Siemens Mobility says its share of the combined contract would amount to about $8.7 billion.