German industrial giant Siemens has signed project-specific compliance agreements with two of its key local partners in Egypt, Elsewedy Electric and Orascom Construction (OC). The agreements will establish comprehensive integrity and clean business standards for their work on landmark power infrastructure projects in the country.
Orascom Construction and Elsewedy Electric are working with Siemens to construct three highly efficient combined-cycle power plants in Egypt – Burullus, New Capital and Beni Suef. Siemens will also build up to 12 wind farms in Egypt, comprising approximately 600 wind turbines, and in total the projects will add 16.4 gigawatts of electricity generation to the national grid.
The agreements provide a general overview of compliance considerations which may need to be addressed during execution, and to foster an environment of integrity for the projects.
“Siemens is a long-term partner to Egypt and it is our belief that only clean business can drive sustainable development. The projects we are executing with our local partners are complex landmark infrastructure, and it is important that they also set the highest standards in terms of compliance,” said Dietmar Siersdorfer, CEO, Siemens Middle East and UAE. “The signing of these agreements is a clear statement that Siemens and its partners stand together for clean business in Egypt.”
Focusing on promoting a business-led integrity network in Egypt, the agreements expand on Siemens full commitment to compliance and clean business.
Siemens, Elsewedy Electric and Orascom Construction SAE have each nominated a dedicated compliance officer, forming two teams to develop a roadmap for the compliance program of each project.
Siemens has been a reliable and trusted technology partner to Egypt’s development since 1859, and has maintained a continuous presence in the country since opening its first office in Cairo in 1901.