Swedish-Swiss tech solutions provider ABB expanding investment in Egypt: VP

Doaa A.Moneim , Wednesday 19 Jul 2023

Swedish-Swiss tech solutions multinational corporation ABB is expanding its investments in the Egyptian market, Sherif Ismail, ABB Egypt’s vice president and the electrification commercial leader Egypt and Central Africa, told Ahram Online.

The roundtable organized by SwissCham.
The roundtable organized by SwissCham.


The company's ambitious plans were discussed on Tuesday during a roundtable on energy efficiency and industrialization in Egypt organized by the Office of Swiss International Cooperation, the Swiss embassy, and the Swiss Chamber of Commerce in Egypt (SwissCham).

ABB has already invested $200 million in Egypt over the past 10 years, he added.

Ismail also said that ABB sees Egypt as a promising market for energy efficiency, green transition, and digital transformation, aligning with the country's Vision 2030 for sustainable development.

He also praised the efforts made by Egypt in these areas over the past few years.

ABB operations in Egypt span the water and agricultural wastewater treatment sector, most importantly through the supply of engines, pumps and variable speed drives.

It is also working to improve the energy efficiency of a number of megaprojects in Egypt.

During the event, Swiss Ambassador to Cairo Yvonne Baumann emphasized the significance of collaboration between the two countries in pursuing sustainable energy solutions.

She highlighted how innovative Swiss companies with cutting-edge technology, like ABB, contribute to a more climate-friendly green economy.

Ahmed Hassan, local business area manager for North and Central Africa at ABB Egypt, expressed excitement about collaborating with SwissCham to raise awareness about energy efficiency and revolutionize the industrial sector.

"We are committed to raising awareness about the benefits of energy efficiency and providing [business leaders] with the best-in-class knowledge about the innovative solutions that can help them achieve their sustainability goals,” he said.

ABB launched the Energy Efficiency Movement (EEM) initiative globally in 2021, extending it to Egypt in May of the same year. The initiative has already attracted 400 companies worldwide as participants.

EEM's primary objective is to raise awareness and encourage action to reduce carbon emissions and energy costs while ensuring safety and sustainability.

Through this initiative, ABB aims to promote affordable energy sources, scalable alternatives, and technical best practices to decrease energy usage.

Emphasizing the importance of transitioning to an energy-efficient world and circular economy, Hassan said that industrial sectors account for nearly 40 percent of global energy consumption and over 30 percent of global greenhouse gas emissions.

As part of ABB's commitment to enhancing sustainability in Egypt, the company signed a memorandum of understanding with the Ministry of Trade and Industry. It includes the donation of a specialized energy-efficient electric motor testing laboratory, worth $120,000, to the General Organization for Export and Import Control (GOEIC), he explained.

This laboratory will verify imported electric motors meets Egyptian and global standards.

The ABB has helped drive sustainable development in Egypt though introducing more efficient electric motors and equipment, he added.

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