General Electric Research Laboraroty- UpStateNYer via Wikimedia
CAIRO – 22 June 2017: Entered the Egyptian market in 1974, the U.S. giant technology company General Electric (GE) had cooperated with the Egyptian government in meeting its energy, transport, technology and health demands through various large-scale projects.
In times of economic turmoil in Egypt fuelled by the market instability after the 25 January Revolution, GE kept injecting money in the country, with a current level of over $200 million in investment, in training and manufacturing sectors.
The latest show of confidence in the Egyptian market was sealed in mid-June when Minister of Investment Sahar Nasr signed $ 575 million agreement with GE to supply 100 new multi-use locomotives, including 15 years of providing spare parts and technical assistance and offering maintenance to 81 new trains.
Financed by GE along with Export Development Canada (EDC), the program also includes training 275 railway system engineers and workers.
Other than the railway sector, GE also serves the aviation sector through its partnership with state-owned airlines EgyptAir, through supplying and servicing over 100 engines for the airline.
Around 60 percent of EgyptAir’s fleet stems power from GE engines, according to the website of the American firm.
As the demand for energy and electricity kept rising in Egypt, whose population number nears 93 million citizens, GE showed commitment in helping the country meeting its growing power demands through offering innovative technologies and products to the sector.
GE has more than 140 gas turbines installed in Egyptian power plants, generating around 30 percent of electricity.
Cooperating with Egyptian Electricity Transmission Company (EETC), GE currently works to connect 7GW of electricity to the national grid using its Gas Insulated Switchgear technology.
The company is expecting 6.5 million homes to be linked to the grid through this project, according to GE reports.
Introducing new technology in healthcare, GE offers medical solutions to help expecting and treating diseases, in cooperation with the Ministry of Health. Around six hospitals spread in different governorates are connected through centralized image repository in Cairo through this project.
GE showed commitment to the Egyptian market, expecting to further grow through its anticipated training and manufacturing facility in the Suez Canal Axis Development Pproject. Moreover, the company considers pumping more investment in the country, as stated in a meeting with Nasr and GE vice president John Rice in June.