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Former economy minister Etienne Schneider, pictured in 2018. Photo: Anthony Dehez 

Lux TP is a subsidiary of Belgian group Besix. Schneider (LSAP) in July last year joined the Besix board after retiring from politics in February 2020. In addition to being economy minister, Schneider was health minister, leaving his post just before the outbreak of the coronavirus pandemic. He also served as deputy prime minister

“Etienne Schneider had a brilliant career in successive governments of the Grand Duchy of Luxembourg from 2012 to 2020 and made a significant contribution to the Grand Duchy in the context of his various mandates,” Lux TP said in a press release.

Among Lux TP’s projects in Luxembourg are the refurbishment of the Adolphe bridge in the capital, the Philharmonie, the Pfaffenthal funicular and the new Ferrero headquarters in Findel.

Schneider replaces Jean Cazzaro who was named honorary president and member of the board. The board of directors also welcomed Pierre Sironval and Hans Beerlandt, both members of the Besix Group executive committee.

The post comes after Schneider took on board positions at ArcelorMittal and Russian conglomerate Sistema, which controls East-West United Bank in Luxembourg.

Following his resignation, Schneider faced questions by lawmakers over the budget of a military satellite, a project he initiated as defence minister (2013 to 2018) while he was also busy boosting Luxembourg’s space resources initiative as economy minister.

Parliament demanded an external audit of the satellite’s budget, which went from €170m to €139m after an analysis by Schneider’s successor François Bausch (déi Gréng) revealed costs that had not been accounted for.  

The former minister meanwhile refused an invitation by MPs to face a grilling over the sale of a plot of land to dairy company Fage. The company last year pulled out of the project with an independent review saying the transaction between the government and the company lacked transparency.