SINGAPORE: German industrial group Siemens signed an 8 billion-euro-deal (S$12 billion) with Egypt here the other day to supply gas and wind power plants designed to boost the North African country’s power generation by 50 per cent.
The deal, signed during an official visit of Egyptian President Abdel Fattah al-Sisi to Germany, is Siemens’ single biggest order ever and gives a much-needed boost to its gas and power division, which is struggling in its home market.
The orders expand on memorandums of understanding announced in Egypt in March with Siemens and other suppliers including General Electric (GE) as Egypt strives to improve its creaking national grid.
That could put the German company, which started doing business in Egypt in 1859, ahead of arch-rival GE.
