Sisi talks further cooperation with European Bank, Siemens

CAIRO – 24 November 2019: President Abdel Fattah al-Sisi on Saturday expressed Egypt's appreciation of the current cooperation with the European Bank for Reconstruction and Development, as the latter has funded many of the country's developmental projects, the Presidency said in a statement.

Meeting Suma Chakrabarti, EBRD's president, on the sidelines of the Investment for Africa Forum in the New Administrative Capital, Sisi welcomed the bank's participation in the forum, which comes within the framework of its efforts to back the various developmental sectors in Africa, presidential spokesman Bassam Radi said.

Foreign Minister Sameh Shoukry and Minister of Investment and International Cooperation Sahar Nasr attended the meeting.



Sisi also met with Siemens CEO Joe Kaeser and expressed his appreciation to the German company's achievements concerning the implementation of developmental projects in Egypt, including the three power plants in Beni Suef, south of Cairo; the New Administrative Capital, east of Cairo; and in Kafr Al-Sheikh's Burullus in northern Egypt.

Sisi said that Siemens is considered an important partner for Egypt in the latter's development path.

The president expressed aspiration to continue and develop the existing partnership with Siemens in many areas related to the company's experience and activity, including rapid transit, rail development and renewable energy. He also expressed hope for the country to benefit from the company's capabilities in terms of the technical training.

Siemens has been one of Egypt's key partners since President Abdel Fattah al-Sisi took post in 2014.

In July 2018, Sisi arrived in the New Administrative Capital to inaugurate four national megaprojects in the electricity sector.

The projects include three giant power plants carried out by Siemens, in the new capital, Beni Suef, and Burullus with a total capacity of 14400 megawatts, or about 50 percent of the electricity grid, in addition to the world’s biggest Gabal al-Zeit wind station.

The wind power plant in Gabal El-Zeit consists of three projects, including 390 wind turbines, with a capacity of 580 megawatts (MW).

As per Beni Suef station, it’s built on an area of 500,000 cubic meters. The project consists of four blocks (cycle vehicle) and each cycle produces 1200 MW, bringing the total output of the plant 4800 MW, each block contains 2 gas turbines and 2 boilers to restore energy and steam turbine.

Beni Suef station contributes by around 20 percent of the total electricity bound to the national network of electricity, especially as it operates with the highest generation efficiency of the world up to 60 percent.

Egypt’s national strategy targets to bring the contribution of electricity from renewable energy to 20 percent by the year 2022.

Moreover, Burullus station, which exists on a land of 250 feddans, will pump 4800 megawatts on Egypt’s electricity grid.