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 Eng. Amr Assal, IDA chairman, and Mr. Emmanuel Lomanson, Managing Director of Schneider Electric opened on 3/2/2009 the new expansions in Schneider factory for circuit breaker and electrical conductors in the 10th of Ramadan City, with Egyptian-French investment costs of L.E25 million which create more than 400 job opportunities. Assal declared that Schneider is working in Egypt for 21 years and it is one of the world major companies in the field of electricity and shared in many of the major projects.
Lomanson stated that the importance of the new production is derived from its providing 40% of the local market needs of miniature circuit breaker. Furthermore, the annual total needs of the local market are about 14 million items with a value of LE250million. Thus, it would import from 30% to 40% of its total needs, Lomanson added.
Lomanson affirmed that in spite of the world financial crisis' impact on the economic market, the company had increased its investments & expansions in the Egyptian market. Lomanson also pointed out that the total investments after expansions had reached L.E50 million , 700 job opportunities and a total product of L.E200 million. In addition, 25% of its product will be exported to North-eastern Africa markets and many Arab countries.
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