The National Egyptian Railway Industries Company (NERIC) and Eastern R&E entered into a memorandum of understanding (MoU) to advance the production of railway rolling stock, according to a statement released by the Suez Canal Economic Zone (SCZONE).

The key areas of this collaborative effort include supplying components for railway vehicles as well as manufacturing freight cars.

The primary objectives of this MOU are to cultivate the production of railroad cars, enable technical cooperation, facilitate technology transfer, and guarantee the quality of the manufacturing process.

The signing ceremony was in the presence of Chairman of SCZone, Walid Gamal El-Din, during his reception of a delegation from the Korean-Egyptian Development Association (KEDA), headed by Mr. Kang Woong Sik, Chairman of KEDA, and association’s members and officials, in addition to officials from EASTERN R&E.

El-Din expressed enthusiasm about attracting Korean investments.

 He added that the cooperation between Korean companies, Eastern R&E, and NERIC opens doors for further partnerships in SCZONE's targeted sectors.

Additionally, the delegation visited the Sokhna Integrated Industrial Zone, where they inspected the HENGTONG Egypt factory, which manufactures electrical products and optical fibers.

The delegation also visited the facilities of Media Egypt Company, which produces home appliances. Both of these companies operate within the industrial development project known as TEDA - Egypt.

Additionally, the delegation toured the factory of the National Company for Steel Industries (NSF). This visit was conducted in collaboration with the Swedish industrial developer.