PEORIA, Ill., Sept. 29, 2016 /PRNewswire/ -- At the U.S.-Africa Business Forum last week, Caterpillar Inc. (NYSE: CAT) Chairman and CEO Doug Oberhelman sat down with Egyptian President Abdel Fattah el-Sisi to discuss the future of Egyptian rail, infrastructure and power generation.
"Meeting with President Sisi offered an impressive vision for the future of Egypt," said Oberhelman. "Infrastructure development is one of his top priorities, and we are uniquely positioned to advance these efforts as Caterpillar has been involved in some of the largest infrastructure projects in Egypt's history. While we're proud of our history in Egypt, the country's incredible opportunity and bright future for investment is where we're focused today. Egypt is on the move and Caterpillar is committed to being a central part of the exciting developments on the horizon."
Caterpillar products helped expand the Suez Canal, while Caterpillar power generation products provided standby power for this massive infrastructure project. The company is also powering the construction of Egypt's massive Tunnels Projects. Cat machines can also be seen building thousands of kilometers of new roads as part of Egypt's National Roads project and actively participating in the construction of the New Capital City outside Cairo. The rich history and investment opportunities also extend to rail.
"EMD, our wholly owned rail subsidiary, has been in Egypt since the early 1950s, and today there are nearly 700 locomotives in operation, designed to run efficiently in Egypt's unique environment of high heat and sandy terrain," Oberhelman continued. "In order to continue supporting this critical market, we're exploring substantial investments in rail centers to serve Egypt and surrounding areas, bringing our rebuild capabilities in country to enhance the existing fleet."
Caterpillar's Egyptian dealer Mantrac is also a strong presence in the country. It has more than 1,000 employees along with 13 branch locations, including state-of-the-art training facilities, rebuild centers and parts distribution warehouses.
During last week's U.S.-Africa Business Forum, Caterpillar and its dealers announced their plan to make a major investment in Africa. As part of that, Mantrac intends to build a branch that will support the construction of Egypt's new administrative and business capital on the outskirts of Cairo.
For 91 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2015 sales and revenues of $47.011 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three product segments - Construction Industries, Resource Industries and Energy & Transportation - and also provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect with us on social media, visit caterpillar.com/social-media.
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SOURCE Caterpillar Inc.