Mostafa Al-Bagouri, CEO of Siemens Egypt, confirmed that the investments of the first phase of the Siemens factory to produce electrical panels and components of the electricity distribution network in 10th of Ramadan amount to 350 million pounds, targeting the local market primarily.
Al-Bagouri said, in statements to reporters on the sidelines of the opening of the first phase in the presence of the Ministers of Electricity, Renewable Energy and Industry, that Siemens Egypt targets sales worth 3.5 billion pounds during the year, noting that the number of current workers in the factory is 225 direct and indirect workers.
He pointed out that Siemens Egypt was able to participate in 14 new smart cities nationwide, stressing that it is targeted to reach the percentage of the local component to 40% during the first phase.
The CEO of Siemens Egypt stressed that the opening of the new factory represents an exceptional event for the company, as it confirms Siemens’ belief in Egypt’s future, which is led by innovation, sustainability and cooperation.
He explained that the new factory represents the latest Siemens initiative within the framework of its extended journey in the local market, which relies on combining global expertise and local empowerment to provide the latest technologies that were manufactured locally, for the sake of Egypt and the region.
Earlier today, the Minister of Electricity and Renewable Energy, Dr. Mahmoud Esmat, and the Minister of Industry, Engineer Khaled Hashem, witnessed the opening of Siemens’ new factory to produce panels and components for electricity distribution networks and automation and control solutions in Egypt, in a qualitative leap that represents a strategic investment that contributes to strengthening its industrial presence in the Egyptian market, which is considered one of the fastest growing markets in the region.
The new factory aims to localize the production of vital technologies for the energy sector, including electrical distribution panels, control and monitoring systems for electrical stations, electrical protection systems, and integrated cybersecurity solutions, to meet Egypt’s growing needs in the field of energy sector transformation and the major expansions that the country is witnessing in infrastructure.
