ABB is planning to establish a $10m power transformer plant in 10th of Ramadan City, the company’s power products unit manager Mohamed Salem said, according to Al Borsa. The plant is expected to have a production capacity of 10,000 transformers per year.
The company agreed with the Industrial Development Authority (IDA) to provide 20,000 cubic meters to ABB in order to establish the plant.
Additionally, Salem explained that the company is aiming to increase its exports during the coming period by around 50% of the production of the new transformer plant. He also pointed out that the company owns about six plants for manufacturing low-medium and high pressure transformers, distribution booths, and distribution boards. There are 2000 workers and employees working for ABB’s six plants. The Company is willing to inject its plants with $ 10m of investments by the end of 2017.
Furthermore, ABB Egypt, North & Central Africa, CEO, Naji Jreijiri, said that the company seeks to secure hard currency for importing raw materials through increasing its export resources.