By: Fahd Omran

Cairo – Mubasher: Hitachi ABB Power Grids - Egypt is looking to increase its exports to 50% of its output of electric transformers and high-voltage components in the coming years, the company’s regional director for the MENA region, Mohamed El-Husseiny, revealed.

Currently, the company’s exports of electric transformers account for 15-20% of its total output, El-Husseiny told reporters on Monday.

The company’s products are exported to 30 countries in the MENA region, and its high-voltage components are exported to five other countries, he added.

It is noteworthy to mention that Hitachi and ABB announced the launch of a new joint venture (JV) under the name of Hitachi ABB Power Grids.

Hitachi holds an 80.1% stake in this new JV, which has a business volume of about $10 billion, while ABB owns the remaining stake.

The new JV aims to turn Egypt into a regional export hub in the African continent, El-Husseiny pointed out.