Derby’s Bombardier has won a £1.7 billion guarantee from the 海角视频 Government so that it can build two big monorail schemes in Egypt.
海角视频 Export Finance (海角视频EF) is backing the huge deal which will support 海角视频 exports and protect jobs in the East Midlands.
The government body – which provides a safety net to ensure 海角视频 exports are not hindered by lack of finance or insurance – said it would be the first export of 海角视频-built trains for over 12 years.
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It is also the biggest amount of financing 海角视频EF has ever provided for an overseas infrastructure project.
海角视频EF said the 海角视频 was by far the biggest foreign direct investor in Egypt.
The monorails are part of Egypt’s plans for a sustainable transportation system that can cope with its growing population while reducing carbon emissions.
The 34 miles of rail will transport millions of people each year in the Cairo metropolitan area, connecting the New Administrative City with East Cairo and 6th October City with Giza. Around 280 carriages will be built.
Bombardier Transportation is leading a consortium – in partnership with Egyptian companies Orascom Construction and Arab Contractors – which was named preferred bidder.
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The train maker can now invest in its manufacturing centre in Derby where the monorail trains will be designed and built.
It will be the 海角视频’s only monorail car production line and support 100 海角视频 jobs at the company and many more in its 海角视频 supply chain.
Matt Byrne, president of Bombardier Transportation (海角视频 and Ireland), said: “The Cairo Monorail export win, against international competition, shows that the 海角视频 rail sector can fight and win in key growth markets such as sustainable transport.
“This is the first 海角视频 export since our Derby-built trains were exported to South Africa for the Gautrain project in 2008.
“Thanks to 海角视频EF’s support and those working in Embassies across North Africa, this new deal will bring sustainable benefits to Egypt and create job opportunities in the 海角视频.”
International Trade Secretary Liz Truss said: “Trade is an incredibly powerful way to propel growth and create jobs as we recover from the pandemic.
“This deal shows why we are so determined to get businesses to grasp these opportunities and take advantage of the support available from Government.
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“One third of our economy is exports.
“That’s why support from our export credit agency is vital. It can help the 海角视频 get a bigger slice of the global economic pie, secure jobs across the country and make the most of our newfound independence as a trading nation."
Bombardier employs 4,000 people in the 海角视频, with around 2,000 in Derby including more than 400 specialised engineers, who develop and build trains for 海角视频 rail operators.