Back to the complete issue
Monday, 30 May 2022

Last Night’s Talk Shows: ADQ industrial investment + high-speed rail lead the conversation on the airwaves

Leading the airwaves yesterday: A new industrial partnership between Egypt, UAE and Jordan that would see Abu Dhabi Wealth Fund (ADQ) investing around USD 10 bn in projects in the three countries led the conversation in talk shows, with a focus from Al Hayah Al Youm (watch, runtime: 5:24) and Ala Mas’ouleety (watch, runtime: 5:16). Trade and Industry Minister Nevine Gamea — who accompanied the Egyptian delegation to Abu Dhabi — phoned in to Ala Mas’ouleety to discuss the agreement and what it means for Egypt (watch, runtime: 17:11).

The high-speed rail got coverage for the second night running: Transport Minister Kamel El Wazir joined El Hekaya’s Amr Adib to discuss the timeline for Egypt’s 2k-km high-speed rail system and its significance for the country (watch, runtime: 4:37). This comes after Siemens, Orascom Construction and Arab Contractors on Saturday signed the contract for the second and third lines of the network, which will connect Cairo to Abu Simbel and Luxor to Hurghada.

We have a timeline for the first phase: Construction and testing on the first line of the project, which runs 660 km between Ain Sokhna and Marsa Matrouh, will be finished during the second half of 2024, El Wazir told Adib (watch, runtime: 1:35). Work began in May last year, he said, expecting Siemens to begin working and supplying tracks and systems by the beginning of August.

And some details on the second: Work on the second and third lines will begin in the next three to four months, OC CEO Osama Bishai told Bloomberg Asharq in an interview (watch, runtime: 8:09). The lines — running roughly 1.3k km across the country — will be finished within four years, he said.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.