Siemens Says Invested EGP40 Mln In Egypt Since Uprising

Siemens S.A.E Holding leading company in Industry, Energy and healthcare positions has invested about EGP 40 million since 25 January revolution in order to launch new phase of Siemens’ Factory in Medinet el Obour.

 Eng. Mohamed El Mahdi, Managing Director & CEO of Siemens Egypt,said during the past two years Siemens has ended from building a new phase for the factory on an area of 4000 m in Medinet el Obour, noting that he produces gas stations insulation.

He added in the sidelines of press conference held yesterday by Siemens, that Siemens company won a contract to renew adapters in the High Dam, stressing that in spite of the weakness of economic condition in Egypt , the decline of pound in compared with other currencies, Siemens sees new opportunities for developing within the coming phase.

 Eng. Mohamed El Mahdi emphasized that Siemens has contracted with The Egyptian Railway Authority (ERA) in order to supply spare parts with cost of EGP 130 million with local currency, stressing that his company has agreed to suply pound despite the decline in its value in comparing with the dollar and other currencies, especially during the last month.

 Siemens has declared within the conference about the distinct competition press details for 2013 in Information and Technology fields for the best press topic in information and Technology (IT) Sector as the announcement of awards will be in April.