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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.

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