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Tuesday, 24 May 2016

GE chief Immelt: Egypt offers “big upside, but not easy”

GE chief Jeff Immelt says Egypt offers “big upside, but [isn’t] easy” in a lengthy interview with Ahram Online. Beyond the electricity, renewable energy and rail transport projects on which GE is currently working, Immelt says he recently discussed with President Abdel Fattah El Sisi “projects that we think are extremely meaningful to the people of Egypt having to do with infrastructure and productivity. … project financing and job creation – that is what the President and I have discussed yesterday. And so there is a keen interest that we have in GE that we sense that there is a great opportunity to be very focused and helpful in Egypt right now. If you have a clear idea of Egypt, you have to take risk – and believe that the returns are higher than the risk.”

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