By expanding into power and infrastructure, oil and gas, automotive and commodity trading, while also investing in projects such as the Alexandria National Iron and Steel Company in 1982, TTC has gained the trust of the Egyptian business community.
TTC’s initiative ‘With Africa, For Africa’ incorporates mobility, life, community, resources and environmental projects. Today, the TTC Cairo Representative Office is strengthening its commitment to the Egyptian market with a focus on power generation.
While Egypt currently relies on thermal power plants for the majority of its power needs, demand for more renewable energy solutions is increasing.
“We won the first-ever wind power IPP (independent power producer) project in Egypt,” said Tokuji Koyama, general manager, TTC Cairo Representative Office.
“The $400 million Ras Ghareb Wind Energy project will improve the country’s ‘energy mix.’” Located on the Gulf of El Zayt, the site boasts excellent year-round wind conditions. Through a consortium, TTC will build, own and operate the 262.5 MW wind power plant. In December this year, TTC will begin to sell generated electricity under a 20-year contract.
“We construct power plants in a timely manner and offer the most advanced technologies,” said Koyama. “We have established strong political and business relationships in Egypt and have seen the Egypt-Japan relationship become more robust over the years.” As the chairing company for Japan-Egypt Business Council, TTC is continuing to contribute to the thriving business relationship between Egypt and Japan.
“Egypt’s economic growth is incredible,” concluded Koyama. “Exports are increasing, security is getting better and Egyptians are friendly and welcoming toward foreigners. As we look to the future, we will build on our reputation as a strong partner for Egypt.”