Egyptian President Abdel Fattah al-Sisi met on Sunday with Peter Lürssen, owner and chairman of the German shipbuilding company, Lürssen, as part of Egypt’s plan to develop its maritime arsenal, raise its manufacturing capabilities, protect its maritime borders, and secure navigation and investments in the Red Sea and the Mediterranean.
The meeting was held on the sidelines of Sisi’s visit to Berlin to attend the Petersberg Climate Dialogue.
Egypt’s Presidential Spokesman Ambassador Bassam Rady said the talks touched on cooperation with the German company, which has extensive expertise in maritime industries and the development of arsenals, in addition to training programs for Egyptian cadres.
The Chairman of the Board of Directors of Lürssen said he was “proud of the joint cooperation process with Egypt… as well as the promising opportunities for direct investments, in light of the comprehensive development undertaken by the state in the infrastructure sectors.”
Sisi and Lürssen had met in August 2020 “to discuss cooperation between the Egyptian side and the German company, which has deep experiences in the field of shipbuilding,” according to the presidency’s statement at the time.
Several other meetings took place between the two sides over the past year.
In November 2020, the German government agreed that Lürssen deliver to Egypt nine patrol boats and a coastal defense boat, in a deal amounting to 130 million euros, as reported by German media at the time.
According to a report published by Africa Intelligence in September 2021, Lürssen presented Egypt with a plan to establish a shipyard and marine facilities near the Suez Canal, to enable the country to build military and commercial ships, thus reducing its dependence on the outside.
Egypt ranked first on top of the largest arms importing countries from Germany last year, with a total value of 4.34 billion euros, according to a report by the German Ministry of Economy issued at the beginning of 2022.
