Elsewedy Electric is setting up USD 500 mn subsea cable factory — the region’s first

Elsewedy Electric will build a USD 500 million subsea cable factory in the newly announced zone in Dameitta Port, according to a statement. The factory will be the first of its kind in the region and only the sixth in the world. The factory will span 500k sqm and include a 180-meter cable manufacturing tower. Exports are the name of the game: All of the factory’s production will be earmarked for export. Elsewedy Electric’s cable-focused arm, Elsewedy Cables, ships 70-80% of its production abroad, generating over USD 1 billion in export revenues annually, General Manager Amr El Sawaf recently told EnterpriseAM. Its products reach over 100 countries, with European nations being its biggest market, followed by those in North America, Asia, and Africa.