U.S. Caterpillar affirms to Sisi commitment to Egypt’s infrastructure Development

At the U.S.-Africa Business Forum last week, Caterpillar Inc. (CAT) Chairman and CEO Doug Oberhelman and Egyptian President Abdel Fattah al-Sisi discussed the future of Egyptian rail, infrastructure and power generation. The company affirmed commitment to Egypt’s Infrastructure Development.

“Meeting with President Sisi offered an impressive vision for the future of Egypt,” said Oberhelman. “Infrastructure development is one of his top priorities, and we are uniquely positioned to advance these efforts as Caterpillar has been involved in some of the largest infrastructure projects in Egypt’s history. Egypt is on the move and Caterpillar is committed to being a central part of the exciting developments on the horizon.”

The company noted that its products helped expand the Suez Canal, while Caterpillar power generation products provided standby power for this massive infrastructure project. The company is also powering the construction of Egypt’s massive Tunnels Projects. Cat machines can also be seen building thousands of kilometers of new roads as part of Egypt’s National Roads project and actively participating in the construction of the New Capital City outside Cairo.

During last week’s U.S.-Africa Business Forum, Caterpillar and its dealers announced their plan to make a major investment in Africa. As part of that, Caterpillar’s Egyptian dealer Mantrac intends to build a branch that will support the construction of Egypt’s new administrative and business capital on the outskirts of Cairo.

Source: Nasdaq