Investment and International Cooperation Minister Sahar Nasr and Transport Minister Hisham Arafat discussed with senior officials of General Electric (GE) and Siemens their offers to upgrade Egypt’s railways. During their meeting with General Electric (GE) North East Africa CEO Ayman Khattab, the ministers tackled GE’s offer to upgrade Egypt’s railways by supplying Egypt with 100-200 locomotives, of which 35 percent will be manufactured locally.
Nasr welcomed GE willingness to increase its investments in Egypt, highlighting the strategic and economic relations between the multinational corporation and Egypt, said a statement issued by the Ministry of Investment and International Cooperation on Friday 09/06/2017.
GE CEO Khattab, for his part, said that his company is looking forward to boosting investments in Egypt to create more job opportunities, contribute to the development process and support the country’s plans to realize higher economic growth. Khattab added that his company aims to pump investments into the renewable energy domain through implementing projects of solar and wind energies.
Meanwhile, ministers Nasr and Arafat discussed with Siemens Chief Financial Officer (CFO) Mostafa El-Bagoury a number of projects in which the German company plans to invest. Siemens’ offer also includes supplying and manufacturing as many 100 new locomotives, with a view to backing and developing Egypt’s railway system.