Egyptian President Abdel Fattah al-Sisi on Saturday received the CEO of Germany’s DMG MORI Christian Thönes to discuss cooperation between the Arab Organization for Industrialization (AOI) and DMG Mori in establishing a factory for the production of high-precision turning machines, the first of its kind in Africa and set to open in 2023.
The meeting was attended by Prime Minister Mostafa Madbouly, President of the Arab Organization for Industrialization (AOI) Abdel Moneim al-Tarras, along with the General Manager of the company and Mahmoud Ali, Managing Director of the company in Africa.
The AOI signed a partnership contract with DMG MORI on Saturday to establish a factory for the production of CNC programmed automatic control machines in Egypt.
Tarras said that the partnership contract includes the establishment of a fully automated and highly programmable factory for the production of turning equipment on an area of about 60,000 square meters within the headquarters of the Arab Organization for Industrialization.
He noted that production is related to the annual capacity of more than 1000 machines, in addition to industrial digitization services for factories, as well as the establishment of an academy for training on this equipment.
They reviewed the executive and contractual position between the AOI and DMG MORI Company to establish the factory, which aims to produce ultra-advanced CNC lathe machines that work with laser and ultrasound technology.
Thönes said that his company seeks to cooperate with Egypt due to the great potential that the Egyptian market currently boasts, the nation’s steady economic growth, and its comprehensive development process that includes mega national projects across the country.
He added that Egypt has factors that enable it to possess many preferential advantages such as an attractive investment climate and a promising economy, which enhances the success of the company’s activity not only within Egypt but the African continent at large.
Thönes said that his company considers Egypt the main front of the African continent due to its strategic position, which is enhanced by factors of stability and an attractive investment climate under a strong political leadership.
President Sisi emphasized Egypt’s openness to support DMG MORI’s activity and trust in its time-honored German experience.
He touched on the importance of localizing industry and transferring technology to Egypt as part of partnership between the two sides, and stressed his appreciation the German expertise in Egypt due to its diligent work culture and high-quality production.
Egypt is looking forward to localizing these principles locally, he said, as well as shaping training and qualification programs for cadres to refine skilled labor in order to provide the best industrial services in the basic business sector – in a manner that meets the Egypt’s unlimited ambition in industrial development, progress and development, as well as providing job opportunities.
Edited translation from Al-Masry Al-Youm