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Sunday, 5 June 2016

Electricity Ministry expands options to maintain the power grid

Siemens in talks to partner with the ministries of electricity and military production to establish a company to maintain power facilities, an Electricity Ministry source tells Al Borsa. The move appears to be an effort to combine two separate companies which Siemens and the ministry had planned to establish separately. Siemens had previously announced through its sales department that it was launching a EUR 60 mn power maintenance company this year, while the Electricity Ministry is studying the development of a EGP 100 mn company. Meanwhile, the ministry has begun receiving offers from five companies based out of the UAE, South Korea, Germany, France, and Egypt to provide maintenance work on the power grid.

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