Back to the complete issue
Wednesday, 26 June 2019

Gov’t talks railways, renewable energy with Siemens on second day of ministerial visit to Berlin

Gov’t talks railways, renewable energy with Siemens during ministers’ second day in Berlin: Siemens looks like it will be doing significant new business in Egypt. Already a favourite of the Sisi administration after the company’s work to rapidly build-out capacity in Egypt’s electricity generation system during a period of rolling blackouts, Siemens now looks set to get work as the Transportation Ministry upgrades its railway signaling system, minister Kamel El Wazir said during a meeting with officials from the German company yesterday, according to a cabinet statement. El Wazir also encouraged the company to bid in future tenders for railway locomotives. ٍThe talks, which came during the ongoing cabinet visit to Germany led by Prime Minister Moustafa Madbouly, centered around future cooperation in the transport sector, renewable energy, vocational training and tech-driven manufacturing.

Siemens said it was willing to begin manufacturing locomotives in Egypt within the next five years, during the meeting.

Also from the visit: Madbouly led a round table discussion with German blue-chip companies to explore ways to strengthen commercial ties.

More to come: The Arab Organization for Industrialization (AOI) is expected to ink four separate agreements today with “major German companies,” AOI boss Abdel Moneim Al Terras said, according to Youm7. The agreements will have to do with medical supplies, water and water treatment plant manufacturing, and providing technical training to workers.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.