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Germany's Siemens Mobility, a subsidiary of conglomerate Siemens, has signed a contract with the Egyptian government to build a 2,000-kilometer high-speed rail network.

On Saturday evening, it announced that it will deliver 41 high-speed trains, 94 regional trains and 41 freight locomotives to the country. The contract also calls for the construction and maintenance of eight train stations over 15 years, Deutsche Welle reported.

Siemens Mobility is working on this megaproject together with the Egyptian construction companies Orascom Construction and The Arab Contractors. The Siemens subsidiary's share of the project is 8.1 billion euros, which includes an initial contract of 2.7 billion euros for the first line, signed in 2021.

The state-of-the-art high-speed rail network, about 2,000 kilometers long, will connect 60 cities across the country. Trains will be able to move along this line at speeds of up to 230 kilometers per hour. According to Siemens Mobility, use of the new rail network will be available to about 90 percent of Egypt's population. According to the company, the new rail network will be fully electrified, which will reduce CO2 emissions by 70 percent compared to existing bus or car transportation.

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