M a r k e t N e w s
SIEMENS SIGNS $9BN DEAL WITH EGYPT
Posted on : Saturday, 20th June 2015
Siemens has signed its single biggest ever order – worth €8bn ($9bn) – to provide gas-fired plants and wind power installations to Egypt.
The new projects will boost Egypt’s power generation capacity by more than 50 per cent and will add anSimens president Joe Kaeser extra 16.4 GW to Egypt’s grid.
The deal was signed in Berlin and witnessed by Egyptian President Abdel Fattah El-Sisi and German Vice-Chancellor Sigmar Gabriel.
The orders come on the back of memorandums of understanding announced at the Egypt Economic Development Conference in March.
Simens president Joe Kaeser said: “With these unprecedented contracts, Siemens and its partners are supporting Egypt’s economic development by using highly efficient natural gas and renewable technologies to create an affordable, reliable and sustainable energy mix for the country’s future.”
Source : powerengineeringint.com
