President Sisi meets Schneider Electric's Delegation and Luc Rémont, in the presence of Prime Minister Dr. Moustafa Madbouly and Minister of Electricity & Renewable Energy Dr. Mohamed Shakir
President Abdel Fattah El-Sisi on Sunday received Mr. Luc Rémont, Executive Vice President – International Operations - Schneider Electric, and a number of the company's leaders /delegations, in the presence of Prime Minister Dr. Moustafa Madbouly and Minister of Electricity & Renewable Energy Dr. Mohamed Shakir.
Presidential Spokesman Bassam Rady stated that the meeting witnessed an agreement between Schneider Electric and the Ministry of Electricity on the establishment of state-of-the-art control centers for Egypt's electricity distributions networks, as part of the national plan to establish and develop these centers nationwide, with the aim of raising the level of power supply service and the overall quality of the national power grid.
During the meeting, President El-Sisi welcomed the cooperation with Schneider Electric, especially in light of the distinguished relations between Egypt and France. Such cooperation is aimed to achieve the mutual benefit and interest of both sides, in light of the increasing demand for electricity and energy in general, as part of the integrated development plan being in place across the country, which includes the implementation of major projects with huge investment potential. Furthermore, this synergy will yield positive results and an added value for the French company, through the success of its activities in Egypt - as was the case with other global companies - through achieving unprecedented business figures, whether with respect to the speed of accomplishment of projects or their sizes in Egypt, in view of the state’s interest and close follow-up, and at the highest levels of efficiency in projects execution. The cooperation also comes as part of Egypt's keenness on technology transfer through nationalization of industries, with the state providing all facilities to achieve this objective, and seeks to leverage Egypt's free-trade pacts with the various Arab and African countries, which help the penetration of products manufactured in Egypt into those markets.
The Presidential Spokesman also stated that Schneider Electric’s President reiterated his company's commitment to double its investments in Egypt, in light of the promising opportunities made available through the projects that are currently under execution in the local market. Mr. Rémont also hailed the unprecedented achievements made in Egypt’s development and infrastructure, stressing his company's commitment to further strengthen its ties with the Egyptian government and maximize its contributions to the upgrade of the country's national power grid, as well as support the country's objectives to boost economic growth, as well as build more human capabilities and nationalize industries.
The Minister of Electricity & Renewable Energy stressed the significance of joining hands with Schneider Electric in the establishment and upgrade of control centers, given their key role in optimizing performance, reliability and smart operation of networks, in addition to improving the quality of electricity feed which come in line with Egypt's vision for maximizing benefit from information technology applications and smart systems and using them in raising quality of services provided to citizens, thus ensuring continued electricity supply in accordance with international standards.
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