For Hybrid renewable energy systems
Under the directives of the political leadership to support and settle local manufacturing, renewable energy and green economy projects. And in accordance with recent initiatives under the auspices of Engineer Tarek Mullah, Minister of Petroleum and Mineral Resources. An alliance and strategic cooperation agreement have been signed between the Alexandria Petroleum Maintenance Company (Petromaint) and Octa International, in cooperation with Egypt heavy industries co.
The agreement stipulates joint work to manufacture and develop hybrid renewable energy projects produced from solar panels and wind turbines to produce the energy needed to operate oil wells in addition to the communication towers in remote areas. which would contribute to decrease the daily wastage of large amounts of petroleum materials and its direct impact on the support of the national economy, the support of the balance of payments (B.O.P) in free currencies and reduction of carbon emissions.
The Alexandria Petroleum Maintenance Company (Petromaint) operates efficiently and effectively in the Egyptian energy market as a governmental entity belongs to Minsitry of petroleum in Egypt that carries out all construction, installation, maintenance and operation of joint ventures under the above-mentioned agreement.
Octa International provides in this field an innovative and advanced European technology for the first time in Egypt and the Middle East, using leading European and global techniques in cooperation with Egypt heavy industries co. and the Egyptian-Kuwaiti company specializing in green economy industries and structures and its various applications, such as solar panels, wind turbines and pivotal irrigation tools.
The agreement was signed by Engineer Ibrahim Mutawa, Chairman of the Board of Directors and Managing Director of the Alexandria Petroleum Maintenance Company, and on behalf of the alliance of OCTA international and Egypt Heavy Industries co., Dr. Engineer Khaled Maatouk, Managing Director and CEO of OCTA international.
The signing of the agreement was witnessed by the work teams from both sides, who engaged in lengthy discussions to reach the final agreement, where the arrangements to begin the excution of the agreement between the coalition parties will take place in the next few weeks.