Siemens to enter new projects in Egypt

CAIRO – 13 June 2017: Siemens will establish a training center, railway and maritime transport development projects Suez Canal Economic Zone, Minister of Investment Sahar Nasr said Tuesday.

The news came through a meeting with Minister of Investment Sahar Nasr, head of the Suez Canal Authority (SCA) Mohab Mamesh and CEO of Siemens Joe Kaeser.
During the meeting, Kaeser said Siemens is looking forward to increasing its investments in Egypt and boost their training programs.

Egypt’s government is currently meeting German businessmen and investors in order to bring investments to the country, as part of President Abdel Fatah al-Sisi’s visit to Berlin.
During the visit, Sisi met representatives from Mercedes, oil and gas exploration firm DEA and Knauf companies.

Also, Nasr signed Monday three agreements with Germany worth of € 203 million ($227 million) in sectors of renewable energy, education, and Small and Medium Enterprises.

The agreement will also include roads renovation, agriculture and rural sanitation projects. Approximately € 50 million within the agreement will be allocated for renewable energy projects and € 12 million will be appointed to support dual education process in the country.

Small and Medium enterprises (SMEs) will be financed by € 141.5 million and € 33.3 million will be allocated to SMEs for National Egyptian Bank (NBE), while roads and agriculture sectors will be boosted across the country for € 25 million.