The National Egyptian Railway Industries Company (NERIC) will begin manufacturing electric locomotives at its East Port Said factory by the end of 2022. NERIC is currently still building the factory. Previous reports had suggested NERIC’s factory would come online and begin production by mid-2022. NERIC was set up in late 2020 as a JV between the Sovereign Fund of Egypt, the Suez Canal Economic Zone, the Transport Ministry, East Port Said Development, Hassan Allam, Samcrete, and Orascom Construction. The company was established as part of a state-led bid to localize the rail industry and specializes in producing and refurbishing locomotives. South Korea’s Hyundai Rotem has now reportedly joined the JV.