German technology giant signs record energy deal during Egyptian President el-Sisi’s visit to Berlin
Germany’s technology giant Siemens has signed 8 billion euro worth energy contracts Wednesday to build natural gas and wind power plants in Egypt.
The single biggest order in the history of Siemens was signed at a ceremony in Berlin, during Abdel Fattah el-Sisi’s official visit.
El-Sisi and German Vice Chancellor Sigmar Gabriel joined the signing ceremony at the Federal Ministry for Economic Affairs and Energy.
"With these unprecedented contracts, Siemens and its partners are supporting Egypt’s economic development by using highly efficient natural gas and renewable technologies to create an affordable, reliable and sustainable energy mix for the country’s future," said Joe Kaeser, president of Siemens, at the ceremony.
Siemens and its Egyptian partners Elsewedy Electric and Orascom Construction are planning to build three natural gas power plants, 12 wind farms and a rotor blade manufacturing facility in Egypt.
The projects will add an additional 16.4 gigawatts (GW) to Egypt’s national grid, according to a written statement by Siemens.