Schneider Electric, the prominent figure in the digital transformation of energy management and automation, has declared its intentions to bolster its investments in the local market by an additional €8 mn in 2023, Invest-Gate reports.

This strategic move aims to fortify the company’s operations in Egypt, attaining sustainable development and expediting digital transformation across diverse sectors.

The supplementary investments encompass the expansion of the Badr factory, the largest of its kind in the area, and the establishment of new production lines spanning a vast expanse of 10,000 sqm.

Moreover, this fresh capital injection is an extension of Schneider Electric’s long-term vision for the local market, which witnessed a total investment of €30 mn in 2020. Of this sum, €10 mn was directed towards the incorporation of a production line dedicated to the manufacturing of electricity distribution panels, while €20 mn was allocated for capital increase and other investments.

In a bid to localize manufacturing and augment the proportion of domestic components, presently ranging between 40% and 60% for all low and medium-voltage products crafted at the facility, Schneider Electric has set in motion expansion blueprints for its flagship Badr factory.

In response to the company’s robust expansion strategy and fresh investments, Sebastien Riez, the Cluster President of Schneider Electric Northeast Africa and Levant, remarked, “Egypt holds substantial economic potential within the energy sector and remains a pivotal market in the region. We are fully dedicated to bolstering sustainable development in Egypt through our investments in infrastructure and industry.”

Riez added, “We aim to augment the local component in our products to meet local and regional export demands, aligning with the Government’s vision for 2030.”