Newsletter subscribe

Electricity & Power

Hitachi ABB Power Grids to Transform Egypt into Africa’s Energy Hub

HITACHI ABB
Posted: July 15, 2020 at 11:53 am   /   by   /   comments (0)

10 Billion USD Hitachi ABB Power Grids to Transform Egypt into Africa’s Energy Hub

● Hosseiny: “Since 1928, Hitachi ABB Power Grids has well-established its brand in the Egyptian market, optimizing its business volume by graciously investing in its seasoned human assets. Currently occupying 15-20% of production, the company has dilegently sough-after boosting exports, transforming Egypt into Africa’s energy hub.”

● Hosseiny: ” Powering good for a sustainable energy future, Hitachi ABB Power Grids is to pioneer with its smart energy solutions serving 4 key sectors. The first is transport sector; serving power-fueled vehicles, the second is the industrial segment, the thrid is infrasturcuture & facilities along with the fourth reinforcing the implementation of icities. The new giant strives as well to thrive with green renewable resources.

With a combined technology-based legacy spanning over 250 years, the iconic Hitachi Ltd. together with ABB Ltd. have allied, founding a 10 Billion USD business titled Hitachi ABB Power Grids. The joint venture aimed at merging Hitachi’s leading open digital technologies with ABB’s world-class power grid solutions, playing an active role in the global transformation and decarbonization of energy.

Country Managing Director of Egypt & North Africa, Hitachi ABB Power Grids, Mohamed Hosseiny, stated: “Powering good for a sustainable energy future, Hitachi ABB Power Grids is to pioneer with its smart energy solutions serving 4 key sectors. The first is transport sector; serving power-fueled vehicles, the second is the industrial segment, the thrid is infrasturcuture & facilities along with the fourth reinforcing the implementation of icities. The new giant strives as well to thrive with green renewable resources.”

Hosseiny added: “Since 1928, Hitachi ABB Power Grids has well-established its brand in the Egyptian market, optimizing its business volume by graciously investing in its seasoned human assets while pursing their wellbeing amid the pandemic. Currently occupying 15-20% of production, the company has dilegently sough-after boosting exports, transforming Egypt into Africa’s energy hub.”

He further elaborated: “Hitachi ABB Power Grids has 2 state-of-the-art production facilities in Egypt located at the 10th of Ramadan Industrial Zone. The first has been renowned for manufacturing Transformers and has hugely successed in exporting to more than 30 countires across MEA region, while the second is a High Voltage products factory. Egypt acts as a managing hub for North & West Africa covering more than 27 countries with branch and representitive offices in Morocco and Cote d’Ivoire respectively. Headquartered in Switzerland, Hitachi ABB Power Grids employs around 40,000+ people, including R&D engineers and scientist from 90+ countries across the globe.”

Hosseiny elaborated: “Now more than ever, the world needs innovative energy solutions as the pandemic has accelerated smarter ways of doing business. Hitachi & ABB alliance will help facilitate growth opportunities in emerging areas such as mobility, smart cities, industry, energy storage and data centers while unleashing new geographies and promising market opportunities.”

It is worth mentioning that Hitachi ABB Power Grids is a joint venture entity designed by the world’s largest technology-led giants, Hitachi and ABB. Building on their mutual long and rich heritage in pioneering expertise, Hitachi ABB Power Grids is to competently tackle today’s urgent challenges facing customers and society. The merge was first announced in December 2018, with Hitachi acquiring 80.1% of shares with almost BUSD 6.5. Hitachi is to enjoy full ownership over the entire entity by 2023, obtaining the remaining 19.9%.

(Source: Hitachi ABB Power Grids)

Comments (0)

write a comment

Comment
Name E-mail Website