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Under the government’s drive to promote local manufacturing and green economy initiatives, an alliance agreement has been formalized between the Alexandria Petroleum Maintenance Company (Petromaint) and Octa International, in collaboration with Egypt Heavy Industries Co.
The agreement centers on joint efforts to manufacture and advance hybrid renewable energy projects, incorporating solar panels and wind turbines. The primary goal is to produce energy for operating oil wells and communication towers in remote areas, with a focus on reducing petroleum wastage, fortifying the national economy, supporting the balance of payments, and curbing carbon emissions.
Petromaint, operating under the Ministry of Petroleum, will be responsible for construction, installation, and maintenance. Octa International brings state-of-the-art European technology into play, partnering with Egypt Heavy Industries Co. and an Egyptian-Kuwaiti company specialized in green economy industries.
The agreement was endorsed by the Chairman of Petromaint and the Managing Director of Octa International, with implementation slated to commence in the upcoming weeks. |
