Cairo – Mubasher: Elsewedy Electric Co on Tuesday announced it has signed a partnership agreement with the French group Montagne et Neige Développement (MND Group) for the development of cable transport in Egypt.
Upon the deal, the French-Egyptian partnership will develop and commercialise cable transport solutions for tourism and urban mobility in the North African country, the Egyptian cable maker highlighted in a statement.
Xavier Gallot-Lavallée, CEO of MND Group, commented, “We are particularly proud of this partnership with the Egyptian group Elsewedy Electric who is a major reference in the development of infrastructures in Egypt, and more broadly on the African continent.
He added that the “expansion of urban transport networks is a major challenge in Egypt. Our cable transport solutions are sustainable, cost effective and quick to implement, answering perfectly the new mobility needs in cities and requirements to access touristic sites.”
For his part, CEO of Elsewedy Electric Ahmed Elsewedy said: “Our leading group in the energy sector, is looking to contribute to the development of mobility in our country.”
This came on the sidelines of the official two-day visit of French President Emmanuel Macron to Egypt.
A delegate of French businessmen representing 15 major French companies is accompanying the French president during his visit to Egypt, the Arab world's most populous country.
Last week, Elsewedy Electric announced that it was considering a number of infrastructure projects in the New Administrative Capital with total investments of EGP 2 billion.
