Prime Minister Mostafa Madbouli on Sunday held a meeting with representatives of Saudi Al Massa Group for electricity supplies, the agent of Croatian KONCAR Group, to discuss the manufacture of electricity projects’ components at home.

The meeting was attended by Electricity Minister Mohamed Shaker, Chairman of the Board of Directors of Al Massa Group Al Shareef Saud Omar Al-Nasser and two representatives of Croatian KONCAR Group.

Regarding the electricity projects, the premier said this sector witnessed a great boom in the past eight years, adding that around 75% of the components required for those projects were locally manufactured.

He noted that electricity components makers have big chances for meeting the local market’s needs of those parts.

The prime minister stated the government aims at present time to localize the manufacture of electricity components, noting that some companies working in this field have made significant success, especially in light of the recent incentives introduced in this regard.

On their part, the representatives of Croatian KONCAR Group said the company has supplied many infrastructure components of electricity projects in Egypt.

KONCAR representatives said the company plans to establish a factory for electric car chargers, especially as Egypt seeks to localize the manufacture of eco-friendly vehicles, notably electric cars.

Al Massa Group chairman said the Saudi group is ready to start manufacturing the components required for electricity projects in Egypt.

In this regard, the electricity minister said the State pays great attention to new and renewable energy projects, adding that his ministry signed memorandums of understanding and agreements to execute projects that produce 40 gigawatts of electricity.

Shaker indicated that electricity components’ makers have real chances to invest in making the key parts of promising renewable energy projects.

Source: State Information Service Egypt