GE to Invest US$200 Million in New Multi-Modal Manufacturing and Training Facility in Egypt
By Business Wire News
By Business Wire News
SHARM EL SHEIKH, Egypt
GE (NYSE:GE) is investing in a new US$200 million multimodal manufacturing, engineering, services and training center in Egypt which will focus on various industries including power generation, renewables, water, oil & gas, aviation and rail transportation.
The new multi-modal manufacturing and training facility in Suez will serve Egypt and the region. This first-of-its-kind facility in the region will be built on the concept of flexibility, allowing for the manufacturing of a diverse set of products and catering to GE’s broad range of businesses. It will work on the principle of a ‘Shared Center of Excellence’ on process, capability and human capital aimed at driving economies of scale. It will create approximately 500 jobs for skilled Egyptian professionals in the next three to five years.
The Center will provide extensive and hands-on technical, operational and leadership training programs for Egyptian professionals as well as extend advisory support to the participants who go on to build SMEs that add to the Egyptian supply chain. In addition, the manufacturing, engineering and services will focus on promoting localized innovation and developing customized solutions to drive higher productivity and efficiencies across all industry touch points – from power plants to hospitals.
Announcing the details of the new initiative that builds on GE’s 40 years of presence in the country on the sidelines of the Egypt Economic Development Conference, GE’s Chairman & CEO Jeffrey Immelt said: “The new multimodal facility will deliver strong economic and social value to the country by supporting key high-growth industry sectors and SMEs in the Egyptian supply chain. By training the new generation of professionals and focusing on localized innovation, we are creating a talent pool who can provide customized engineering solutions. This is another example of GE’s focus on bringing technologies and knowledge where it matters most.”
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