This new firm will reportedly play a significant role in the modernization of the Egyptian petroleum industry by helping to increase refinery utilization, maximize productivity and minimize maintenance costs.
The deal is expected to facilitate a significant increase in the technical knowledge of Egyptian engineers. The sharing of Invensys Process Systems’s expertise both with existing engineers and Egypt’s new engineering graduates is designed to generate a deeper understanding of process control in the oil and gas sector.
The chairman of the company will be Mohamed Saad Yahia, who is the assistant chairman of Enppi. This joint venture is likely to be the first of many, as Invensys Process Systems seeks to roll out this new business development model into emerging markets worldwide.
Ulf Henriksson, Invensys’s CEO, said: We are committed to building a world-class modern facility which will include a versatile staging area, workshop and warehouse capable of handling the largest automation projects. Naturally we hope that our significant local presence will help enlarge our installed base in the country and promote the growth of high technology demand.
