Energy efficiency companies operating in the Emirates are targeting growth in power-hungry Egypt.
MAF Dalkia, a joint venture between the UAE firms Majid Al Futtaim Ventures and Veolia, has won its first contracts in Egypt with plans to open an office in July.
MAF Dalkia is currently undertaking the technical management of the City Centre malls in Cairo and Alexandria.
“We’ve started the preparations on the two shopping centres, and then we will launch the energy savings campaign,” according to Alexandre Mussallam, chief executive of MAF Dalkia.
Majid Al Futtaim Group is developing other projects in the country, such as the Mall of Egypt, giving MAF Dalkia more potential business.
“MAF is the investor and it’s a project that is under construction, but there are other projects in the pipeline,” said Mr Mussallam. “The company is giving the message to the market that they believe in Egypt, and we decided to follow the trend.”
Panasonic also plans to expand its Eco Solution business in the country. “We believe Egypt has the highest potential, particularly because it’s so brand-centric,” said Anil Roshan Castelino, Panasonic’s eco solutions head. He said that Egypt has historically relied on big names in industries, and Panasonic is a leader in the energy efficiency market.
Mr Castelino said that Panasonic would utilise its approved distributors or partners in Egypt to promote its energy-efficient solutions.
By the middle of next year, MAF Dalkia expects to provide 150 permanent jobs in Egypt. While the firm believes that its company will experience a 12 per cent growth rate for the entire region, it anticipates more than doubling its business operations in Egypt over the next five years.
Egypt wants to develop a million housing units for low-income Egyptians.
The UAE company Arabtec is in discussions with bankers to finance the first phase of the $40 billion project.
lgraves@thenational.ae
Follow The National's Business section on Twitter
