Elsewedy Electric, a multinational giant in cable and electrical equipment manufacturing, spearheaded by Egyptian billionaire Ahmed El-Sewedy, has officially launched the Elsewedy Industrial City (EIC) in the Kibaha District of Tanzania.
Spanning an expansive 2.6 million square meters, EIC represents East Africa’s first fully integrated industrial hub, strategically positioned just 15 km from the Kwala Dry Port, seamlessly connected by the Standard Gauge Railway (SGR).
This landmark initiative, undertaken through Elsewedy’s subsidiary Elsewedy Industrial Development (SD), is a testament to the shared economic vision between the two nations.
A $400-million industrial oasis: Egypt-Tanzania collaboration sparks economic surge
The industrial city, designed to attract a substantial $400 million in investments, embodies a diversified approach, incorporating key sectors such as building materials, engineering, food and beverages, and pharmaceuticals. It stands not only as a symbol of economic collaboration but also as a commitment to mutual prosperity between Egypt and Tanzania.
In addition to its industrial significance, EIC has been meticulously planned to include residential zones for workers and a range of amenities, presenting a holistic model for sustainable economic development. The city’s strategic location, coupled with state-of-the-art facilities, positions EIC as a pivotal growth center, not just for Tanzania but for the broader African continent.
The collaboration between Egypt and Tanzania on this grand venture signifies a new era in their economic partnership, promising sustained growth and development. Ahmed El-Sewedy, the driving force behind Elsewedy Electric, expressed his enthusiasm for the project, emphasizing its potential to elevate bilateral economic relations.
Elsewedy Electric: Pioneering electrical manufacturing in the MENA region since 1938
Elsewedy Electric, founded in 1938, has been a stalwart in the electrical equipment manufacturing sector, leaving an indelible mark on projects across the Middle East and North Africa. With a commanding 68.1-percent stake, jointly held by Ahmed El-Sewedy and his siblings, Sadek and Mohammed, totaling 1,478,358,330 ordinary shares, the family’s collective stake in Elsewedy Electric now exceeds a staggering $1.5 billion.
The industrial city aims to catalyze economic development by facilitating land transfers to other investors within the industrial city. The $400 million earmarked for investment is expected to energize sectors critical to Tanzania’s growth, including Building Materials, Engineering, Food and Beverages, and Pharmaceuticals.
