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)
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