Elsewedy Electric installs three hydro-turbines worth $1 billion to boost Tanzania’s power grid by 705 MW.
Elsewedy Electric
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Key Point Elsewedy Electric, a leading cable and electrical equipment manufacturer led by Egyptian businessman Ahmed El-Sewedy, has secured a QAR1 billion …
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UAE group offers $558 million for stake in Egyptian billionaire family’s electric company
Founded in 1938 by the El-Sewedy family, Elsewedy Electric has become a major force in the electrical equipment manufacturing sector.
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This initiative aligns with the Egyptian government’s food security strategy of localizing grain silo manufacturing.
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Despite this financial setback of EGP136.55 billion ($136.53 million), the El-Sewedy family remains one of Egypt’s leading billionaire families.
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Egyptian tycoon Ahmed El Sewedy’s electric firm announces $22-million dividend for shareholders
This decision underscores the company’s commitment to rewarding its stakeholders for their continued support.
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The family’s wealth had taken a hit between March 14 and 28, with the market value of their stake tumbling EGP5.36 billion …
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Their 68.1-percent stake in Elsewedy Electric, once valued at $1.29 billion on March 14, has declined to $970.05 million at the time …
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Despite this financial setback of $677 million, the El-Sewedy family maintains their position as one of Egypt’s leading billionaire families.
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Spanning an expansive 2.6 million square meters, EIC represents East Africa’s first fully integrated industrial hub.