TOKYO, Jul 25 – On July 21, Mitsubishi Heavy Industries, Ltd. (MHI) established the subsidiary MHI Technologies S.A.E (MHI Egypt) in the Egyptian city of New Cairo. In order to strengthen MHI’s economic, and industrial relationships with Egypt, which has the population of 90 million, and to serve as a springboard to the substantial African market.
The subsidiary was created for new business development and to work flexibly in alliance with Egyptian companies to quickly and accurately meet the needs of the rapidly growing demand of Egypt’s infrastructure and industrial base. MHI Egypt has been established through investment from MHI, the MHI Group company Mitsubishi Heavy Industries France S.A.S. (MHIF, headquartered in Paris) that oversees Europe, the Middle East and African regions, and our European office Mitsubishi Heavy Industries Europe, Ltd. (MHIE, Headquarters: London).
With Egypt completing an expansion of the Suez Canal in 2015 and developing other large-scale projects such as regional development plans, the world’s attention is now focused on the country’s growth potential, and overseas direct investment is increasingly active. Upon the inauguration of MHI Egypt, MHI President and CEO Shunichi Miyanaga made the following comment.
“MHI Group is currently delivering many products to Egypt, such as our participation in the South Helwan thermal power plant project, Egypt’s largest, in the energy field. On the occasion of the establishment of MHI Egypt, while carrying out activities rooted in the country, our entire Group will make further efforts to contribute to the future growth and prosperity of Egypt, making full use of our technical capabilities in a wide range of business areas.”
In the meanwhile, going forward, MHI will make close contact with the customers and markets of Egypt and Africa through MHI Egypt, and continue to actively carry out business activities that contribute to the economic and industrial development of the region.