Helmy Hamza & Partners, Baker McKenzie Cairo office, has advised the National Egyptian Railway Industries Company (“NERIC”) on its first offtake and supply agreement with Hyundai Rotem, the South Korean heavy industry company and the National Authority for Tunnels (“NAT”).
Under the terms of the agreement, the consortium of NERIC and Hyundai Rotem will manufacture and supply NAT with 40 new trains consisted of 320 rolling stocks for the second and the third metro lines in Cairo.
This is a major milestone towards localizing the manufacturing of rolling stocks in Egypt at NERIC plant located in East Port Said Industrial Zone in a prospective area of c. 300,000 m2 in the Suez Canal Economic Zone.
Baker McKenzie Cairo advised NERIC on reviewing the rolling stock supply, localization contracts made with Hyundai Rotem.
The Helmy Hamza & Partners, Baker McKenzie Cairo team was led by managing partner Mohamed Ghannam (pictured) with assistance from counsel and co-head of antitrust and compliance Hesham Ragab as well as banking and projects associate Ahmed Shehata.