Elsewedy Electric opens an industrial complex and electric cable factory in Tanzania with total investments of more than USD35 mn, Invest-Gate reports.
The step aims establishing a new regional manufacturing and export hub for wires & cables, transformers, meters, and insulators in a new milestone for the cooperation between Egypt and Tanzania. It also highlights a new landmark in the expansion plans in Africa for Elsewedy Electric, the leading Wires & Cables and Integrated Energy Solution Provider in the Middle East and Africa.
The inauguration ceremony was attended by senior government officials from both Egypt and Tanzania.
“Elsewedy Electric has embarked on a mission to expand in Africa 20 years ago. Over this time, Tanzania has remained one important priority in our strategy, which materialized in 2018. Tanzania’s favourable investment climate and its government’s support to industries enable Elsewedy Electric to use the new complex as a manufacturing and export hub at the heart of east and south Africa,” Ahmed El Sewedy, CEO and President of Elsewedy Electric, says.
The newly opened factory spans over 120,000 sqm, and it comprises several manufacturing facilities, from cables & wires, transformers, through PVC, and meters, to a logistic center-built centre on a 4,800 sqm area.
The complex will produce the solutions and equipment necessary for the industrialization strategy of Tanzania 2025 and will create over 500 jobs for talented youth and technical engineers in the first phase alone, which includes the wires and cables factory.
Additionally, the complex includes a technical training academy to provide innovative technical education and vocational training programs with international standards to skill and train aspiring employees and feed the growing labour market in the developing nation.
“We are also keen on leveraging our social responsibility by working to develop the Tanzanian community and provide training for Tanzanian youth to cement their experience,” El Sewedy adds.
In the same vein, President of The Republic of Tanzania Samia Suluhu Hassan also laid the foundation stone of the Egyptian Industrial City (EIC) in the Kigamboni district of Dar es Salaam.
The 2.2 million sqm industrial park is expected to accommodate labour-intensive industries, including chemical, engineering and mining industries.
Developed by Elsewedy Electric’s subsidiary, Elsewedy Industrial Development, the park is aimed to attract over $400 mn worth of investments from over 100 investors across the region, which would create more than 50,000 jobs and support Tanzania’s industrialization strategy 2025.
In 2018, together with the Arab Contractors and the Tanzanian Electric Supply Company, Elsewedy Electric had embarked on a massive project to construct the largest hydropower station in Tanzanian history – the Julius Nyerere Hydropower Dam.
The project is expected to provide an annual average of 6,300 GWh of electricity, which would help millions of Tanzanians live and prosper.
Elsewedy Electric is a leading provider of integrated energy solutions in Africa and the Middle East, and a significant contributor to economic growth in EGYPT. The Company has a portfolio incorporating all traditional and renewable energy areas along with related services. It is one of the largest worldwide manufacturers of cables and meters, especially smart meters. It is also one of the regional and continental leaders in electrical contracting and manufacturing of transformers, insulators, and other electrical products.