Cairo:- Elsewedy Electric (EGX: SWDY.CA), the leading integrated energy and infrastructure solutions provider in the Middle East and Africa, recently participated as a main sponsor at the African Union's Specialized Technical Committee that took place in Egypt from 14-18 April, as the current Chair of the African Union. The committee meeting was attended by a number of African ministers including ministers of electricity and renewable energy, ministers of transportation, ministers of tourism, ministers of aviation, ministers of communications and ministers of investment, in addition to the Egyptian Minister of Electricity, top officials in the Egyptian energy sector as well as Egyptian Electricity Holding Company officials.
In addition to participating as one of the main sponsors, Elsewedy Electric’s representatives gave informative presentations during the meeting about the Group’s achievements and projects across Africa. The Committee discussed cooperation opportunities and development of transportation, energy and electricity sectors in the Union countries, especially with the increasing demand for energy and developmental projects in all sectors. African Union countries seek to seize all investment and development opportunities from within and outside Africa to achieve the sustainable development of the African countries.
"Africa is not only a geographical extension of Egypt but also a strategic dimension for Elsewedy Electric at all levels," said Eng. Ahmed El Sewedy, CEO of Elsewedy Electric. “We have been operating in Africa for 15 years. During this period, we have been able to confirm our leadership in 14 African countries in the fields of manufacturing of cables, transformers, meters, power stations, electricity transmission and distribution, infrastructure projects and the development of specialized industrial zones to serve the African economy and enhance development there in line with Egypt's vision to deepen its African presence at all levels."
Elsewedy Electric has ventured into several investments in many promising African countries; utilizing the vast potential to foster growth and development within these countries. Elsewedy Electric is a global leader in integrated energy solutions. As such, it was, and still is, well positioned to spearhead the developmental process across Africa.
Elsewedy Electric’s enjoys a stellar track record across Africa. In Angola, the company signed an agreement with the Ministry of Electricity in 2015 to establish an electricity generation station. Moreover, the company, in collaboration with the Arab Contractors and the Tanzanian Government, is establishing a $2.9 billion damn and hydroelectric station on the Rufiji river with a capacity of 2115 MW. In Ethiopia, Elsewedy Electric established the first cable factory there in 2009 to respond to the local market’s demands and export as well. The company is also discussing and overseeing the possibility to establish an industrial complex in Entebbe, Uganda. Moreover, the company is establishing a cables, cable accessories and transmitters factory in Algeria in 2008.
About Elsewedy Electric
Elsewedy Electric (EGX: SWDY.CA) 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. With a wealth of local experience and manpower, Elsewedy Electric is committed to help provide the countries, in which the Company operates, with a reliable and affordable power supply. In fiscal 2018, which ended on 31st of December 2018, Elsewedy Electric generated revenue from continuing operations of EGP 42.5 billion and net income of EGP 4.9 billion. At the end of December 2018, the company had around 14,000 employees worldwide. Further information is available on the Internet at www.elsewedyelectric.com.
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