15 December, 2019

Schneider Electric's total investments in Egypt reach $200mln

Company completes electrical works for desalination plant; signs MoU for deploying smart city solutions

A worker stops for a drink of water as construction continues on the Western Hemisphere's largest seawater desalination plant in Carlsbad, California, April 14, 2015. Image used for illustrative purposes.

A worker stops for a drink of water as construction continues on the Western Hemisphere's largest seawater desalination plant in Carlsbad, California, April 14, 2015. Image used for illustrative purposes.

REUTERS/Mike Blake

15 December 2019

Schneider Electric's total investments in Egypt would touch $200 million by end-2019, the company chairman said.

Jean-Pascal Tricoire told Thomson Reuters Projects that the company's investments span a 10-year period.

"Egypt is our regional hub serving the Middle East and North Africa (MENA) and Africa regions. We have invested in resources to serve many sectors ranging from smart buildings and smart grids to desalination plants," he said.

Tricoire said the company has successfully completed the electrical works contract for the Al Galala sea water desalination plant on the Red Sea coast, and recently signed a Memorandum of Understanding with Egyptian developer Tatweer Misr to supply smart city solutions for their projects.

The contract values weren't disclosed.

(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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