Madbouly, Elsewedy Electric discuss expansion plans, new investments
Prime Minister Mostafa Madbouly met with Ahmed El Sewedy, President and CEO of Elsewedy Electric, to review the company’s business strategy, expansion plans, and investment projects across multiple sectors. Senior company officials also attended the meeting.
Madbouly reaffirmed the government’s commitment to supporting Egypt’s industrial sector as a cornerstone of the national economy, stressing its role in driving growth, development, and social progress. He highlighted ongoing efforts to localize strategic industries to meet domestic demand and boost Egypt’s competitiveness in global markets.
The Prime Minister underscored the importance of strengthening private sector participation, noting the state’s continued efforts to expand its role across diverse industries.
El Sewedy emphasized that Egypt offers significant investment opportunities, particularly in industry and tourism, amid current regional developments. He reviewed the company’s ongoing projects and future expansion plans, with a special focus on the automotive industry, including electric vehicles.
He highlighted cooperation with the General Authority of the Golden Triangle Economic Zone, calling for additional land allocations to meet rising investor demand and support ongoing infrastructure development.
El Sewedy also outlined progress in automotive manufacturing, announcing that new vehicle models will be produced in Egypt in partnership with global manufacturers. The Elsewedy–Ezz factory, he noted, has an estimated annual production capacity of 80,000 vehicles, aimed at meeting local demand and expanding exports, with investments valued in the billions of Egyptian pounds.
The meeting further reviewed Elsewedy Electric’s projects in Borg El Arab, Upper Egypt, and other emerging industrial zones, alongside planned investments in new industrial areas nationwide.
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المصدر: Daily News Egypt