Naji Jreijiri, ABB Group’s country managing director, said that his company agreed with the National Petroleum Company (Wataniya) of the National Service Project Organisation to install equipment for charging electric vehicles, adding, “the government is creating more incentives to buy electric cars, and we have already equipped some Wataniya gas stations with electric car charging stations.”
Jreijiri told Daily News Egypt that in 10 years, there will be fewer petrol-powered cars and that Egypt is getting ready for the coming electric vehicles.
Jreijiri added that the Egyptian government exerts huge efforts to enhance the economic environment, noting, “there is a very positive economic and investment climate in Egypt, especially with the new Investment Law, which simplifies setting up new companies. New companies will benefit a lot following activating the one-stop shop for founding firms.”
“I see positive signs following the projects that are driven by the government; if the government does not invest hand-in-hand with the private sector, companies will not be able to prosper at the same level,” said Jreijiri.
Jreijiri added that ABB Group is a $37bn company and it employs 135,000 persons worldwide, noting that the company operates in more than 100 countries.
“We largely invest in developing renewable energy products, and we really have a big focus on developing and producing electric materials that consume less electricity. For example, today, our motors consume less than 40% of the power our motors did four years ago,” mentioned Jreijiri.
On 8 May, Daily News Egypt reported that ABB awaits additional meetings with President Abdel Fattah Al-Sisi after the first meeting was held in April to exchange visions and understand the president’s ideas about Egypt’s plan to become a regional energy hub and the participation of ABB in new city projects, according to a previous press release from ABB.
Al-Sisi also received ABB CEO Ulrich Spiesshofer and discussed his vision of Egypt as an energy hub in the Middle East and North Africa on 24 April.