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Elsewedy Electric, a leading multinational cable and electrical equipment manufacturer led by Egyptian businessman Ahmed El-Sewedy, plans to revolutionize Uzbekistan’s energy industry by introducing advanced technology and equipment.
The recent announcement comes some weeks after the Egyptian company expressed its readiness to launch a joint venture in Uzbekistan as part of the move to deepen the group’s operations and strengthen its revenue and earnings.
During the ongoing negotiations between El-Sewedy’s company representatives and the Ministry of Investment, Industry, and Trade of Uzbekistan, the manufacturer showcased its groundbreaking energy projects that have yielded success in 19 countries worldwide.
This list of projects encompasses the construction of expansive energy facilities, the implementation of high-capacity transmission lines, the cultivation of sustainable energy alternatives, and the formation of advanced, intelligent cities.
Laziz Kudratov, Uzbekistan’s minister of investment, industry, and trade, disclosed that El Sewedy Electric’s introduction to the country’s market as a leading manufacturer of electrical products and cables holds immense potential to invigorate Uzbekistan’s energy sector.
The continuing negotiations between the two parties have resulted in impressive outcomes, as they have mutually agreed upon a collaborative work format for effectively developing and implementing investment projects within the country.
Elsewedy Electric, founded in 1938 by the El-Sewedy family and led by Egyptian multimillionaire businessman Ahmed El-Sewedy, is a leading player in the electrical equipment manufacturing industry and has played a significant role in the development of electrical projects across the Middle East and North Africa.
As part of efforts to strengthen Egypt-Saudi Arabia trade relations while expanding its operations throughout the Middle East and North Africa region, the group announced nearly three months ago plans to establish a new firm in Saudi Arabia.
The coming onstream of the new subsidiary, will provide opportunities for investors and other stakeholders in both countries and strengthen Elsewedy Electric’s participation in the manufacturing and energy sectors.
