Siemens signs up for more TE work

13 September 2002

Germany's Siemensannounced on 9 September the signing of a fresh framework agreement with Telecom Egypt (TE). Estimated to be worth Eur 650 million ($637 million), the five-year agreement calls for the expansion of the fixed-line network in Cairo and Upper Egypt. The signing came three months after France's Alcatelsigned a similar agreement with TE for a 1.5 million-line expansion of the national network in the Delta and Alexandria regions (MEED 14:6:02).

The latest agreement calls for Siemens to expand the network in the capital, the Sinai Peninsula and along the Suez Canal by 2.2 million lines. The work will be carried out by Siemens local joint venture manufacturer Egyptian German Telecommunication Industries (EGTI).

The deal was signed by Siemens president and chief executive Heinrich Pierer during a visit to Cairo. Pierer also announced that the company planned to invest Eur 100 million ($98 million) in expanding its local sales and service activities and that Siemens Industrial Services & Solutions Grouphad received a letter of intent, worth Eur 250 million ($245 million), to build a local pharmaceutical plant (see Industry).

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