Back to the complete issue
Thursday, 10 November 2022

Schneider Electric to supply electric power equipment for real estate developers

Schneider Electric + real estate players to sign EGP 1 bn in contracts: France’s Schneider Electric is expected to sign nine contracts worth more than EGP 1 bn with leading real estate developers to supply electric power equipment, Schneider MENA President Walid Sheta told Bloomberg Asharq in an interview (watch, runtime: 9:07). Sheta told the broadcaster that the companies would put pens to paper yesterday but we hadn’t heard anything by this morning.

Schneider is considering setting up a logistics center in the Suez Canal Economic Zone (SCZone) within the next two years “to benefit from the zone’s strategic location in supplying equipment from one place to another globally,” Sheta said. The company’s total investments in Egypt were estimated at more than EUR 300 mn as of last year, he said.

ALSO- Turkish retailer Beko plans to break ground on its new Tenth of Ramadan factory on 7 December, cabinet said yesterday. The company has invested USD 100 mn in the facility, which is expected to come online during 4Q 2023, the statement said.

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; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.