President of Tanzania Samia Suluhu Hassan inaugurated on Monday Elsewedy Industrial Complex of Elsewedy Electric East Africa LTD in Tanzania, establishing a new regional manufacturing and export hub for wires, cables, transformers, metres, and insulators in a new milestone for the cooperation between Egypt and Tanzania.
The inauguration ceremony was attended by senior government officials from both Egypt and Tanzania. From the Egyptian side, the investment delegation was spearheaded by Asem El-Gazzar, Egypts Minister of Housing and Urban Utilities, the Ambassador of Egypt in Tanzania, Mohamed Jaber Abu El Wafaa, and the CEO of the General Authority for Investment and Free Zones (GAFI), Mohamed Abdelwahab, as well as 50 Egyptian businessmen and investors.
Elsewedy Electric President and CEO Ahmed El Sewedy said: 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. Tanzanias favourable investment climate and its governments 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. Tanzania is suitably located bordering eight countries, six of which are nearly or completely land-locked, which makes Tanzania well-positioned to become a regional economic and transit hub.
Built on 120,100 square metres with investments of $35m, the complex comprises several manufacturing facilities, from cables & wires, transformers, through PVC, and meters, to a logistic center built 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. In addition, 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.
On the same remarkable day, President Suluhu Hassan also laid the foundation stone of the Egyptian Industrial City (EIC) in the Kigamboni district of Dar es Salaam.
The 2.2m sqm industrial park is expected to accommodate labour-intensive industries, including chemical, engineering and mining industries. Developed by Elsewedy Electrics subsidiary, Elsewedy Industrial Development, the park is aimed to attract over $400m worth of investments from over 100 investors across the region, which would create more than 50,000 jobs and support Tanzanias industrialization strategy 2025.
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