General Electric discuss pumping new Investments in Egypt Power Sector

Egyptian Prime Minister Ibrahim Mahlab has met with General Electric Co’s Vice-chairman to discuss pumping new investments in Egypt’s power sector, the Cabinet Spokesman Hossam al-Qawish said Tuesday.

The meeting was held in the presence of the Egyptian ministers of electricity and Investment.

Al-Qawish stated that the Egyptian prime minister has expressed his appreciation for the implementation rates and the quality standards adopted by the American conglomerate corporation General Electric in its ongoing power plant projects in Egypt.

Mahlab noted that there are more opportunities for GE to pump new investment in Egypt’s power sector and other sectors.

During the meeting, Mahlab added that Egypt has succeeded in the field of generating electricity as it added new capacities into the sector in short time.

On other side, GE’s Vice-chairman asserted that the firm decided to expand its activities in the Egyptian market in a number of various fields, most prominently energy, with the possibility of providing necessary fund for those planned investments.

Furthermore, the GE official said the company is currently studying participation in other Egyptian projects in sectors of transport, health, and petrochemicals, affirming company’s commitment to all agreements signed during Egypt’s Economic Development Conference (EEDC) held last March.

He expressed GE’s willingness to contribute to projects that would be implemented as part of the Suez Canal Development project.

Moreover, Egypt’s Electricity Minister Mohamed Shaker pointed out that the ministry is conducting a number of studies in cooperation with General Electric to upgrade the quality and maintenance of some existing power plants to boost their capacities.