Lieutenant-General Abdel Moneim Al-Terras, Chairman of the Arab Organization for Industrialization, stressed the importance of implementing the directives of President Abdel Fattah El-Sisi to strengthen all efforts to localize renewable energy technologies, pointing to strengthening our manufacturing capabilities and deepening local industrialization in this field in accordance with the latest mechanisms of the Fourth Industrial Revolution.

This came during the signing of a cooperation protocol between Arab Industrialization and Al-Fanar International Development Company, Saudi Arabia.

In this regard, Al-Terrace clarified that with this cooperation we aim to localize clean and renewable energy technology, praising the advanced technical and technological expertise of the Saudi Al-Fanar International Development Company in these areas.

The "Terrace" indicated that it was agreed to gradually increase the proportions of the local component, to save the expenses of importing the components that enter this industry, and to work on reducing imports and localizing this industry in a way that contributes to strengthening the state's plan to increase reliance on clean and renewable energies and preserve the environment.

He added that it was agreed to take advantage of the materials and equipment produced by Arab Industrialization, to design and manufacture the inclusions of this industry's technologies, in accordance with international quality standards and at competitive market prices.

The "Terrace" stated that the areas of cooperation aim to meet the needs of the local market, and to expand in the future to the African and Arab markets.

For his part, Eng. Gamal Mohamed Wadi, Chairman of the Board of Directors of the Saudi Al-Fanar International Development Company, confirmed that the Egyptian market has become attractive to Saudi investments, praising the pivotal role played by the Arab Organization for Industrialization in localizing the latest clean and renewable energy equipment technologies and deepening local manufacturing in accordance with international quality standards.

Also, the engineer, "Jamal Wadi" expressed his happiness at signing the cooperation protocol with the Arab Organization for Industrialization, which, with God's help and strength, will be the cornerstone in signing several agreements with the Authority to localize the renewable energy industry to serve the Egyptian market in general, the Arab Alliance for Industrialization and Al-Fanar International Development Company In particular.