Siersza power plant CC via Wikimedia Commons/Dawid Skalec
CAIRO - 29 May 2019: The Ministry of State for Military Production and Advanced Engineering Solutions (AES) on the one hand, and Micro-Mesh Filtration on the other hand signed a memorandum of understanding (MoU) to manufacture air filters for gas turbines.
The products will be sold to Egypt’s power plants and exported to other North African countries. AES is a consulting firm offering services pertinent to the design and reassessment of oil and gas infrastructure and facilities. Its main offices are in India and Dubai.
The products will bear the logo of “Eurofilter,” according to a press release by the UK embassy in Egypt. British Secretary of State for International Trade Liam Fox concluded his visit to Egypt on Wednesday and announced deals in the sectors of healthcare, transportation, and financial services sectors.
Those consist of a contract with Bombardier Transportation to build two Cairo monorails worth €3 billion, a contract with Vodafone worth $100 million to develop a health insurance IT system in Port Said, a contract with GSK worth LE100 million to upgrade two major production lines in Cairo.
During Fox’s visit, the Central Bank of Egypt announced that the UK's development finance institution CDC Group is the first non-IFI bank to be granted approval to provide ‘Tier 2’ capital to Egyptian Banks.
“This decision paves the way for CDC to invest an estimated $150-200 million in Egypt’s banking sector. The CDC will also open an office in Egypt in the coming months to support its increased engagement in Egypt,” the statement read.
British Ambassador to Egypt Sir Geoffrey Adams said that “with Egypt's economic reforms and the UK’s departure from the EU, we have the opportunity to tear down barriers to trade and investment and strengthen our economic ties.”