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Ahram Online: Schneider Electric doubling production, increasing investments in Egypt soon

Remont said that the Egyptian market is a strategic one for SE because of its capacity and potential ‎to grow faster than any other market regionally.
29.01.19 | Interesting article at Ahram Online

The growing number of development projects and an improved investment environment has ‎encouraged French multinational corporation Schneider Electric to pump new investments into Egypt, said Luke Remont, executive vice president of ‎international operations at the company.‎

‎“We are planning to double the production capacity at our factory in Egypt by June 2019,” Remont said today ‎during a press conference in Cairo. ‎

Remont also said that the Egyptian market is a strategic one for SE because of its capacity and potential ‎to grow faster than any other market in the region, as well as the access it provides to other countries ‎through free trade agreements.‎

‎“Thanks to the government's national development plan, Egypt is offering many investment ‎opportunities in major projects, and SE wishes to scale up its investments in the country,” Remont ‎said, adding that the main fields of cooperation include renewable energy, smart cities and sea water ‎desalination.

‎“We are manufacturing in Egypt and export to other markets as well,” he said, explaining that SE exports ‎to 12 countries in the MENA region through its factory in Egypt.‎

‎“We are going to participate in the development of infrastructure in the new cities being built in Egypt, ‎which are considered mega projects that cater to the needs of the growing population and a growing ‎industry,” he added.‎