Schneider Electric rises its Exports and Investments in Egypt
Schneider Electric, a leader in energy management and automation worldwide, and the General Authority for Investment and Free Zones (GAFI) have spoken about the company's expansion intentions in Egypt. Hossam Heba, the president of GAFI, and Sebastian Rees, the president of Schneider Electric for North East Africa and the Arab Levant, paid a visit to the company's Badr City facility, which is the biggest of its kind in the Middle East.
The factory was founded in 2009 and develops digital solutions for sustainability and energy efficiency in addition to low- and medium-voltage panels. It creates 600 direct jobs and exports more than 30% of its goods to more than 30 nations. The company intends to invest €10 million to install a new production line at the Badr factory in 2020 and 2021, increasing its production capacity, local component, and export activity.
Heba commended Schneider Electric for its recent investments, stating that they are in line with the government's plan to foster social and economic growth and localise the electrical sectors. In addition, he emphasised the company's contribution to the technology transfer to the Egyptian market.
According to Rees, Egypt is a significant market and Schneider Electric's regional centre, with enormous development and expansion possibilities. "We believe that local manufacturing is the key to economic growth", he declared, pledging to increase the country's investments, increase the local component, encourage exports, and train and develop the local workforce to a high standard.