Egypt-France Industrial Localization Partnership Expands to Include Green Hydrogen
Key Ideas
- Egypt and France are collaborating to localize industries such as automobile, railway, renewable energy, and green hydrogen to meet local demands and boost exports.
- A key initiative with French company Alstom involves establishing a large industrial complex in Borg El Arab City to produce electrical systems and railway components.
- French companies are encouraged to operate in Egypt, with 180 already providing significant job opportunities and contributing to the country's economy.
- Both sides are committed to implementing projects according to schedule, fostering a strong partnership for industrial growth and development.
Deputy Prime Minister Kamel El-Wazir and French Ambassador Eric Chevalier met to discuss strategies for localizing industries in Egypt, focusing on automobile, railway, renewable energy, and green hydrogen sectors. They highlighted ongoing joint projects and developments outlined in an MoU between the Egyptian Ministry of Transport and the French Ministry of Economy and Finance. Collaboration with Alstom aims to localize railway and electric traction industries, with plans for a complex in Borg El Arab City. The project includes a factory to produce various rolling stock types. Efforts to meet local market demands and expand exports were emphasized, with updates on Metro Line 6 discussed. Both sides affirmed commitment to project implementation. The partnership extends to the automotive industry and renewable energy sectors, with a focus on wind energy and green hydrogen. French companies are seen as high-quality providers encouraging localization and exports. Egypt looks to strengthen cooperation with French firms by having them establish factories in Egypt or partner with local private sector entities. The French Ambassador expressed confidence in Egypt's industrial growth, aiming to attract more French companies to operate in Egypt. Magali Cesana from the French Treasury highlighted the interest of French political leadership in these projects, aiming to attract French companies and closely monitor progress.
Topics
Green Hydrogen
Renewable Energy
Collaboration
Economy
Foreign Investment
Industrial Development
Railway Industry
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