In compliance with President of Egypt Abdel Fattah Al-Sisi vision to evolve the local Egyptian industry, the Arab Organization for Industrialization signed a Memorandum of Understanding with Diehl Metering on July 25th, 2019.
The agreement entails plans for Diehl Metering to meet the needs of the local market of smart meters. This initiative came after AOI invited members of Diehl Metering Division Board Mr. Jean-Francois Marguet, CSO of Diehl Metering and Dr. Christof Bosbach, CEO of Diehl Metering, to visit Egypt.
“The MoU will assist in the implementation of the mandate of President Abdel Fattah Al-Sisi for the transfer and resettlement of technology and the deepening of local manufacturing of smart meters in cooperation with international expertise. As well to increase the proportion of domestic component in the national industries, in support of comprehensive development projects”, Abdel Moneim Al-Taras, Chairman of the Arab Organization for Industrialization, said in a statement.
Both companies agreed to explore options to strengthen the collaboration between Diehl and Egyptian Government.
The Arab Organization for Industrialization was established in 1975 for creating technology-based industries in the Arab World. The AOI Higher Committee is chaired by the President of Egypt. AOI operations include both military and civil activities, fulfilling the requirements of the Armed Forces of Egypt, Arab States and friendly countries. It also supports societal development plans, with emphasis on infrastructure, ecological protection and railway projects.