Minister of Electricity and Renewable Energy Mohamed Shaker Wednesday discussed with Stephan May, the CEO of the Electrification and Automation Business Unit at Siemens in Germany and Mostafa el Bagoury, the CEO of Siemens in Egypt and their accompanying delegation ways of boosting cooperation between the Egyptian electricity and renewable energy sector and Siemens.
A source at the Ministry of Transport told Al Shorouk newspaper Sunday that the ministry mulls presenting the model of the high-speed electric trains to be introduced in Egypt for the first time ever.
Additionally, the minister cited decreasing the price of renewable energy to $2.3 cents for one kilowatt (kW) of solar energy and $2.4 cents for one kilowatt (kW) of wind energy – lowest prices globally – and the exempt released earlier this year for solar energy projects, as great incentives for investors in the sector.
Rady elaborated that this discussion comes within the framework of Egypt's endeavor to become a regional center for the production and exchange of new and renewable energy
The Ministry of Transport will soon hand over 40 kilometers of the High-Speed Electric Train railways to Siemens.
The two parties will use their resources and expertise to meet the diversified demand of these vital sectors, and to better exploit their enormous potential.
“Germany has always been a partner and friend of Egypt’s modernization,” Hartmann stated.
In a recorded speech, German Chancellor Olaf Scholz said that Egypt is becoming a pioneer in technology over the African continent. I hope that other countries would follow this example
The German company, Siemens will be implementing both the second and third lines of Egypt's first high-speed train, with lengths of 925 km and 297 km, respectively.
During his meeting with CEO of Siemens Middle East Dietmar Siersdorfer, he pointed out to Egypt’s importance as a regional energy hub in the Eastern Mediterranean, underscoring the need to take advantage of its distinguished geographical location, especially during the current energy transition period.
In that context, the ministry revealed that the technical works contracts of the second and third lines will be signed with Siemens soon.
Transport Minister Lieutenant-General Kamel Al-Wazir said that after marathon negotiations that lasted for several months with Chief Executive Officer of Siemens AG, Roland Busch, an agreement was reached between the two sides.
The German Company Siemens for Renewable Energy has announced the beginning of the operation of the wind farm in West Bakr area in Ras Ghareb in the Gulf of Suez with a capacity of 250 megawatts.
Rabie was updated on the latest technological innovations of Siemens International in the areas of development, digitization, and building smart cities.
It was signed by Mohamed Mohamed Salah El-Din, Vice Chairman and Managing Director of the National Authority for Military Production, Mostafa El Bagoury, CEO of Siemens Egypt, and Wael Omar, Senior Vice President of Digital Industries at Siemens.
During the meeting, the premier expressed pleasure over reaching an agreement on all the technical details of a high-speed train project, which will be carried out in Egypt.
Shaker hailed the level of cooperation with the German company in implementing a number of projects and programs in the electricity sector.
This came in the presence of Egypt’s Prime Minister Mostafa Madbouly, and Mohamed Shaker, Minister of Electricity and Renewable Energy.
The consortium includes (German Siemens, Orascom Construction, and Arab Contractors). The project is about 660 km long, and the contract includes maintenance operations for a period of 15 years.
This came during a virtual panel organized by Siemens Middle East, titled “Technology with Purpose for the Middle East”.