Cairo, Egypt: - Giza Systems, the digital transformation enabler and leading systems integrator in Egypt and the MEA region, announces entering into an agreement with the large Spanish multinational group EOSOL, to sell 50% interest of GSEC, a subsidiary of Giza Systems, established as an Engineering, Procurement and Construction (EPC) contractor specialized in the field of electromechanical contracting projects covering various sectors This agreement was announced during EGYPS event as part of a shared vision for the transformation of the Oil & Gas sector and the push for the acceleration of renewables.

Commenting on the agreement, Osama Sorour, CEO of Giza Systems Group said “We are excited about this strategic partnership with EOSOL, as it is a significant milestone in the growth of GSEC’s portfolio in the renewables business.” Sorour added: “The joining of forces is a compelling advantage as it brings together industry-leading expertise in renewables and infrastructure projects to contribute towards national projects and accelerate the transformative benefits of renewables across the various sectors.” The new partnership comes as a strategic move to leverage synergies of both companies for the growth of the business and drive for renewables. EOSOL, leading in the renewables sector, will significantly enable the growth of GSEC’s portfolio and entry into new markets, whereas GSEC will enable EOSOL to expand its footprint as their construction arm in the MEA region.

“We are very excited about this union of companies that will help us develop in the region and will also help GSEC and Egypt to export their knowledge and know-how in the regions where EOSOL is present,” stated Bruno Bernal, CEO of EOSOL Group.

GSEC is an established EPC specializing in the field of potable water and wastewater treatment and infrastructure projects in the MEA region. GSEC optimizes design and delivery of international electro-mechanical contracts to provide clients with real operational benefits, through its capabilities in state-of-the-art technologies.

EOSOL is a group of specialized engineering services companies with a presence in more than 40 countries in the Energy, Industry, Automotive, Construction and Infrastructure, Telecommunications, Aerospace and Defense sectors. Leader in consulting, project management and execution. Backed by a long experience with a participation of more than 60 GW in the renewable energy sector worldwide.

GSEC and EOSOL are in the process of finalizing the transaction, subject to customary closing conditions.

Giza Systems, is a digital transformation enabler and a leading systems integrator in the MEA region, designs and deploys industry-specific technology solutions for asset-intensive industries such as the Telecoms, Utilities, Oil & Gas, Transportation and other market sectors. Giza Systems helps clients streamline their operations and businesses through our portfolio of solutions, managed services, and consultancy practice. Our team of 1400 professionals are spread throughout the region with anchor offices in Cairo, Riyadh, Dubai, Doha, Nairobi, Dar el Salaam, Abuja, Kampala and New Jersey, allowing us to service an ever-increasing client base in over 40 countries.

-Ends-

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2022

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.