Siemens, the global powerhouse in electronics and electrical engineering operating in the energy, infrastructure, industry and healthcare, demonstrated today the importance of dialogue between the public and private sectors in Egypt through its participation in the Euromoney Egypt financial Forum held on September 16th and 17th under the slogan: “Stability, Investment and Growth”. Siemens participation in the event stems from the company’s belief that the private sector has to support the government in strengthening the local economy while also contributing to achieve a sustainable development for Egypt.
During the Energy session of Euromoney, Siemens CEO and Managing Director, Mohamed El Mahdi will present a comprehensive picture of the solutions that can create reliable, sustainable and highly-efficient energy system.
“The rapidly increasing domestic demand for energy is a major challenge for Egypt. More efficient power plants, greater utilization of natural and renewable energy resources combined with a push for energy efficiency can help quench the thirst for energy and ensures sustainability, affordability and availability for consumers as well as for industrial and non-industrial sectors.” says Mohamed El-Mahdi.
The Energy system is a key factor to achieve economic competitiveness and growth in all sectors in Egypt while lowering the burden on the national budget. With Siemens wealth of experience, manpower and our strong local presence, the company is well-positioned to help Egypt accommodate its growing demand for power.
“The energy situation calls for the proper energy mix and mid and long term approach. First of all, renewable energy sources must be available at competitive prices through supportive regulatory framework. The replacement of small and medium sized inefficient power plants with highly efficient combined cycle power plants can also be a vital quick win. A detailed grid stability study will also be important to pin-point critical grid bottlenecks. In addition, management of energy demand and supply for domestic usage, industry, buildings and transportation must be introduced in an effective manner.” El-Mahdi, concluded.
It’s worth mentioning that Siemens presence at the Euromony follows its participation in “Egypt, Road to Future” international economic forum which was held on September 7th, 2014 to discuss different ways to boost the Egyptian economy while also serves as a precursor for Egypt’s International Economic Conference. Throughout the forum, Siemens provided a comprehensive vision for the development of local energy sector.
For over 114 years, Siemens in Egypt contributed in developing, manufacturing, designing, installing most of the vital systems and projects for Egypt in all fields. Siemens has always seen its customers as long term partners and provided them with the highest quality, innovative products, solutions and services.
