Back to the complete issue
Tuesday, 3 March 2020

Schneider Electric signs agreement with gov’t to build power control centers

Schneider Electric has signed an agreement with the Electricity Ministry to build power control centers for Egypt’s electricity grid, an Ittihadiya statement said. President Abdel-Fattah El-Sisi met with SE’s Executive Vice President for International Operations Luc Remont on Sunday to discuss the agreement. The statement did not specify how many control centers would be built or a timeframe. The ministry launched at the end of January a tender for five power control centers in the Alexandria, Upper Egypt, Suez Canal and Greater Cairo areas. Competing companies at the time included General Electric, Siemens, ABB, Schneider Electric and China’s State Grid Corporation. The project will be financed by the Egyptian Electricity Holding Company using a portion of a EGP 19 bn loan it acquired in 2017 from a banking consortium led by the National Bank of Egypt and Banque Misr.

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.