20 July 2019 06:33 PM

Sisi honors Siemens CEO

Tuesday، 24 July 2018 - 03:54 PM

President Abdel Fattah El Sisi honored on Tuesday 24/7/2018 President and Chief Executive Officer of Siemens AG Joe Kaeser for the company's contribution to accomplishing mammoth projects in the electricity domain.

Sisi granted Kaeser a certificate of appreciation.

During the honoring ceremony, Sisi thanked all those who worked on the national electricity projects which were inaugurated.

He thanked Kaeser for the great service which Siemens offered to Egypt as the company will not get huge gains from the stations set up in Egypt in comparison with world prices.

He said boosting electricity means securing needed energy for households in addition to having a chance to expand the industry, adding that this marks a great stride in the national development march.

Sisi hailed the efforts exerted by the Electricity Ministry to put an end to the energy problem which Egypt suffered three years ago.

President Abdel Fattah El Sisi said that one of the challenges that was facing Egypt is that electricity and petroleum were offered at prices lower than their cost.

He expounded that the Petroleum Ministry used to be in the red to secure needed fuel for generating electricity and avoid blackouts.

The government has in the past period raised electricity and fuel prices to make up for this gap.

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