Elsewedy Electric, the Cairo-based multinational cable and electrical equipment manufacturer controlled by the Egyptian billionaire El-Sewedy family, plans to invest roughly 500 million to expand operations in Saudi Arabia and Qatar.
Ahmed Elsewedy, the CEO of Elsewedy Electric, revealed that around 400 million SAR 1.5 billion will be directed toward Saudi Arabia. The company intends to build nine new factories, including two in Yanbuone producing specialized cables and another copper rods. The Yanbu copper rod plant, developed in partnership with Alfanar, has an annual capacity exceeding 130,000 tonnes.
Additional investments will fund facilities in Riyadh to manufacture cable accessories, fiberglass, electric vehicle chargers, and water meters. A new plant in Dammam will focus on power transformers. Elsewedy Electrics industrial operations in Saudi Arabia currently generate 533 million, alongside ongoing engineering and construction projects valued at 4 billion.
