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In the Africa IPAs Forum 1 in Egypt’s Sharm El Sheikh taking place from June 11 to 14 under the slogan, “Growth for Integration,” Egyptian electronic mogul Ahmed El Sewedy has announced plans to further his investments in Angola.
In a statement on Egypt Today, the businessman said his company, El Sewedy Electrometer Group, is contemplating “launching manufacturing units there to make benefit from its location on the Atlantic Ocean.”
The company has already built power plants in Angola.
In Tanzania, El Sewedy has embarked on the construction of the Julius Nyerere Hydropower Station. The project is a 2,115-megawatt power plant worth $2.9 billion on the Rufiji River in eastern Tanzania. It is scheduled to last for 36 months.
Arab News quoted El Sewedy as saying that the dam project will account for 10 percent of the company’s total revenue. He also mentioned that the station’s construction is carried out by an Egyptian consortium of Arab contractors and Elsewedy Electricmeter.
According to the tycoon, the dam project is the consortium’s largest in Africa and is fully financed by the Tanzanian government.
El Sewedy Electrometer Group is an Egyptian multinational electrical company. It was founded in 1938 by the Elsewedy family.
The company manufactures and sells integrated energy products and services in seven energy segments. They include electrical cables and accessories, electrical, telecommunications, wind energy generation, energy measurement and management products, engineering works, procurement support and contracting.
A leading provider of end-to-end metering solutions and services that help with electricity, water and gas utilities, the company is helping to mitigate the operational challenges of revenue collection, network loss reduction and load management.
As of 1996, its subsidiary, Egytech, began to export power cables to foreign markets, including Qatar, Bahrain, Rwanda, Chad, Cyprus, India, South Africa, Iraq, Ireland, Italy, Jordan, Kazakhstan, Kenya, Saudi Arabia, Kuwait, Libya, Mauritius, Nigeria, Algeria, Angola, Romania, Russia and Spain.
El Sewedy is the company’s president and CEO.
