CAIRO: Invensys Process Systems have joined ENPPI and GASCO in a joint venture to create Invensys Process System Egypt, the first “industrial automation engineering center of excellence” in the country, according to a press statement.
The new company is set to “play a significant role in the modernization of the Egyptian petroleum industry, help increase refinery utilization, maximize productivity and minimize maintenance costs,” read the statement.
The deal was sealed this week by Minister of Petroleum Sameh Fahmy and Invensys Plc. CEO Ulf Henriksson.
The partnership is meant to facilitate a significant increase in the technical knowledge of Egyptian engineers through knowledge sharing with local people working in the field and fresh graduates to “generate a deeper understanding of process control in the oil and gas sector.”
Henriksson said, “I attach great important to this new venture. This best business practice model enables profits to be shared with our customers while creating genuine partnership. We are committed to building a world class modern facility which will include a versatile staging area, workshop and warehouse capable of handling the largest automation projects. Naturally, we hope that our significant local presence will help enlarge our installed base in the country and promote the growth of high technology demand.”
The chairman of the company will be Mohamed Saad Yahia, the assistant chairman of ENPPI, while Invensys Process Systems will be appointing a general manager shortly. This first joint venture is likely to be the first of many as Invensys Process Systems role out this new business development model into emerging markets worldwide.
Invensys is a global automation, controls and process solutions group comprised of Wonderware, Invensys Process Systems, Eurotherm, Invensys Rail Group and Controls.
The group is headquartered in London and is listed on the London Stock Exchange, with around 25,000 employees working in 60 countries.
(Daily News Egypt)