- Siemens and Petrojet signed a memorandum of understanding to combine their broad base of expertise, capabilities, and new technological means within the Egyptian petroleum, infrastructure, utilities, and water sectors.
- Siemens and Petrojet will jointly execute potential projects of common interest and will continue to discuss future cooperation opportunities within the Egyptian petroleum, infrastructure, utilities, and water sectors.
Cairo: Siemens Egypt and Petrojet signed a memorandum of understanding cooperation agreement to jointly bolster cooperation within the Egyptian petroleum, infrastructure, utilities, and water sectors to execute projects and continuously look for new potential business opportunities within the framework of the Ministry of Petroleum’s strategy to digitize the petroleum sector and in line with Egypt’s Vision 2030.
This memorandum of understanding between Siemens and Petrojet serves as a successful model of cooperation, combining a broad base of expertise, capabilities, and modern technological means with the aim of unlocking potential promising opportunities within the petroleum, infrastructure, utilities, and water sectors. Both parties will jointly use their resources and expertise to address the varied needs of these vital sectors in order to enhance their great potential.
Under the memorandum of understanding, Siemens will offer the latest state-of-the-art smart and innovative, digitalization, automation, and energy management solutions along with its proven technical training programs on low voltage power distribution, motor protection, and control products and digital solutions. As one of the largest national contractors contributing to Egypt’s oil, gas, chemical and petrochemical industries, in addition to infrastructure projects, Petrojet will offer resources, equipment, and facilities in order to execute projects that enhance the petroleum sector’s capacities.
“Together with Petrojet, Siemens is proud to support the Ministry of Petroleum’s vision to digitalize and enhance the capabilities of the Egyptian petroleum, infrastructure, utilities, and water sectors with our strong portfolio and world-class smart solutions focused on digitalization, automation and energy management,” said Mr. Mostafa El-Bagoury, Siemens Egypt CEO. “In today’s rapidly-evolving technologies, our mission is to contribute to accelerating the process of digital transformation to support Egypt’s development plans in the era of the Fourth Industrial Revolution.”
For his part, Eng. Waleed Lotfy, CEO and Managing Director of Petrojet, said: “As the national construction and fabrication arm of the Egyptian petroleum sector, we are pleased to partner with Siemens as one of the world’s leading technology giants. With this fruitful partnership, we will jointly seek promising business opportunities to execute projects with the latest technologies to meet the needs of the sector in line with the strategic plan of the sector and Egypt’s Vision 2030.”
The agreement was signed by Mr. Mostafa El Bagoury, CEO of Siemens Egypt; Eng. Waleed Lotfy, CEO and Managing Director of Petrojet; and Ms. Dalia Shoukry, Chief Financial Officer of Siemens Egypt.
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About Siemens AG
Siemens AG (Berlin and Munich) is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power.
In fiscal 2021, which ended on September 30, 2021, the Siemens Group generated revenue of €62.3 billion and net income of €6.7 billion. As of September 30, 2021, the company had around 303,000 employees worldwide. Further information is available on the Internet at www.siemens.com.