French Schneider Electric mulls €30-million investment in Egypt until 2025

French Schneider Electric company is planning to inject additional €30 million in Egypt until 2025 to boost the production capacity of its electrical panels factory in Badr City, the company’s Northeast Africa and Levant Cluster President Sebastien Riez said in an interview with CNN Business Arabic, ‘Arab Business’ reports.

€10 million of the €30 million will go into the launch of a new production line. Riez also indicated that the 45,000-square meter factory exports around 25% of its production to 14 regional markets, and that the amount of local components used in production ranges between 40% and 60%.

On Sunday October 29, the office of Egypt’s Premier said the French company has already injected investments amounting to 300 million euros ($317.38 million) in Egypt over the past 35 years.

“We are committed to strengthening our investments in Egypt, increasing the local component, and supporting exports, based on our belief that local manufacturing is the key to economic growth”, Riez also indicated. For him, the North African country represents a major market for the French company, in which Schneider sees promising opportunities for growth and expansion.
Schneider Electric opened shop in the Egyptian market in 1987.