Egyptian billionaire Ahmed El-Sewedy’s electric group lands $274.7-million deal in Qatar

Omokolade Ajayi -

Key Point

  • Elsewedy Electric wins $274.7-million deal for Qatari power grid expansion. The three-year project involves supplying and installing high-voltage cables.
  • Family-controlled Elsewedy Electric, led by Ahmed El-Sewedy, secures major contract showcasing its regional power in the MENA electrical equipment market.
  • Company partners with industry leaders to modernize grain storage facilities, aligning with Egypt’s food security goals.

Elsewedy Electric, a leading cable and electrical equipment manufacturer led by Egyptian businessman Ahmed El-Sewedy, has secured a QAR1 billion ($274.7 million) contract with Qatar General Electricity & Water Corporation (Kahramaa) through its Qatari subsidiary, Elsewedy Cables Qatar.

The three-year deal involves engineering, procurement, and construction (EPC) services for the Qatar Power Transmission System Expansion project. Elsewedy Cables Qatar will supply and install 132-kilovolt (kV) power cables for strategic projects within the grid.

El-Sewedy Electric: A family-owned powerhouse in MENA

Founded in 1938 by the El-Sewedy family, Elsewedy Electric is a major player in the Middle East and North Africa’s electrical equipment manufacturing sector.

The El-Sewedy family, led by Chairman and CEO Ahmed El-Sewedy, maintains a controlling 68.1-percent stake in Elsewedy Electric, valued at over $1.2 billion, through their combined holdings of 1,478,358,330 ordinary shares.

Under El-Sewedy’s leadership, the company has evolved into a regional and international provider of energy, digital, and infrastructure solutions. Elsewedy Electric boasts total assets of $3.6 billion, with operations spanning 15 countries.

Elsewedy Cables Qatar: Top player in Qatar’s energy sector

Elsewedy Cables Qatar, a 73.4-percent subsidiary of Senyar Industries Qatar Holding W.L.L., is majority-owned by Elsewedy Electric (50 percent stake).

The recent contract with Kahramaa follows another significant EPC win for Elsewedy Cables Qatar. The company secured a contract from Technip Energies for a critical project linked to Qatar’s North Field South (NFS) Onshore Project.

The NFS project involves establishing an electricity supply for project facilities. Elsewedy Cables Qatar’s scope includes the design, engineering, procurement, and installation of two 400kV cables connecting the RLF-S substation to the new 220kV INTAKE SS-36500 substation.

Beyond power grids: Elsewedy Electric strengthens Egypt’s food security

In May 2024, Elsewedy Electric entered a strategic cooperation agreement with Switzerland’s Bühler Group 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. The project aims to bolster food security, promote sustainable growth in the agriculture sector, and minimize post-harvest losses in the country.