Hassan Allam Holding announces agreement to establish the National Egyptian Company for Railroad Industries

26 November 2020

Hassan Allam Holding is proud to announce it has signed an agreement to establish the National Egyptian Company for Railroad Industries (NERIC).

NERIC is a national joint venture initiative formed by Hassan Allam Holding and a group of Egyptian companies including Samcrete Holding, Orascom Construction, Connect Information Technology in partnership with The Ministry of Transport, Suez Canal Economic Zone and The Sovereign Fund of Egypt. The JV will establish a rolling stock plant, a major milestone in Egypt’s strategic industrialization plan and aims to actively participate in achieving the goals set forth in Vision 2030 for developing the national railway networks.