Schneider Electric has announced plans to increase its investments in the local market by an additional €8m throughout 2023.
In a Sunday statement, Schneider Electric said the move is part of the company’s strategy to enhance its operations in Egypt geared toward achieving sustainable development and accelerating digital transformation across various sectors.
Moreover, it indicated that the additional investments include the expansion of the Badr factory, the biggest of its kind in the region, and the new production lines covering a total area of 10,000 sqm.
“The new investment is an extension of Schneider Electric’s long-term strategy for the local market, which saw a total of €30m in 2020; €10m were used to add a production line for manufacturing electricity distribution panels, while €20m were allocated for capital increase and other investments.”
In an effort to localize manufacturing and increase the percentage of local components, which currently stands at 40-60% for all low and medium-voltage products manufactured at the factory, Schneider Electric has initiated expansion plans for its flagship Badr factory. These products are utilized in various sectors, with over 30% of the factory’s production exported.
Sebastien Riez, Cluster President of Schneider Electric Northeast Africa, and Levant, said, “Egypt has significant economic potential in the energy sector and is a key market in the region. Moreover, Egypt is a key market for Schneider Electric in the Middle East and Africa.”