Egypt’s Elsewedy to break ground on a new industrial park within weeks

Egypt’sElsewedy inches closer to building its new industrial park: Elsewedy Industrial Development is expected to break ground on its industrial zone — dubbed Industria October — in New 6 October City upon receiving a 2.5 mn-sqm plot from the New Urban Communities Authority within two to three weeks, Elsewedy Electric CEO Ahmed El Sewedy said during an event attended by Enterprise. The zone will be located near the 6 October dry port and linked by railway to Alexandria port.

ICYMI- The company said it was in talks with the government to build a 5-mn-sqm industrial zone in a bid to attract EGP 20 bn worth of investments back in January 2023.

Expansion overseas: The company is looking to expand its footprint across the Gulf — namely in Saudi Arabia and Qatar — where there is high demand for infrastructure projects, El Sewedy said. The company also wants to step into Latin America this year, with a focus on infrastructure, electricity, renewable energy, and gas sectors.

Disruptions due to Red Sea attacks are constraining the company’s cable and power transformers imports, affecting shipping costs and delaying delivery dates, El Sewedy said.