Elsewedy Electric, a multinational giant in cable and electrical equipment manufacturing, led by Egyptian businessman Ahmed El-Sewedy, has signed a strategic cooperation agreement with Switzerland’s Bühler Group, a renowned technology firm, and IBC Group to modernize and expand grain storage facilities in Egypt.
This initiative aligns with the Egyptian government’s food security strategy of localizing grain silo manufacturing. This will bolster food security, support sustainable growth in the agricultural sector, and reduce post-harvest losses in the country.
Egypt, the world’s largest wheat importer, faces significant challenges in grain storage, leading to high post-harvest losses estimated at 10 to 30 percent. These losses impact food security and strain the country financially.
El-Sewedy vows local production push
Ahmed El-Sewedy, CEO and president of Elsewedy Electric, emphasized the partnership’s significance: “Our partnership with Bühler Group and IBC reflects our commitment to nationalizing key industries and leveraging the expertise of international firms.
“By focusing on strategic sectors such as grain silos, we aim to deepen component manufacturing and shift from imports to local production. This collaboration will also pave the way for exports, reinforcing Egypt’s role in regional food security,” Ahmed El Sewedy added.
Elsewedy Electric: Top player in electrical equipment manufacturing
Founded in 1938, Elsewedy Electric has become a leading force in the electrical equipment manufacturing sector, making a significant impact on projects across the Middle East and North Africa.
The El-Sewedy family retains a substantial ownership stake in Elsewedy Electric, holding a combined 68.1-percent interest. This translates to 1,478,358,330 ordinary shares jointly held by El-Sewedy and his siblings Sadek and Mohammed, with a value exceeding $1 billion.
Commitment to food security and sustainable development
Elsewedy Electric and Bühler Group have joined forces to transform grain storage solutions. The strategic partnership leverages Elsewedy’s expertise in engineering and construction alongside Bühler’s cutting-edge grain processing technologies. The collaborative effort aims to integrate digital solutions and automation systems into storage facilities, to streamline processes, minimize errors, and enhance overall efficiency.
The execution of this Cooperation Agreement exemplifies Elsewedy Electric’s unwavering commitment to advancing food security and resilience, particularly within Egypt and the broader African region. This partnership represents a significant milestone in the company’s ongoing pursuit of innovation and sustainable development within the agricultural sector.
