Ahmed Elsewedy, chairperson of El Sewedy Electric, said that his company plans to launch seawater desalination projects in Egypt. The company has allocated some of its investments to implement the projects, according to Elsewedy, however, he did not reveal the expected cost of the projects.
Elsewedy noted that his company is currently implementing cables and transmission projects to supply electricity to the New Administrative Capital for over EGP 3bn. The company is committed to completing the work agreed upon on time, he added.
He pointed out that the company has investments in Saudi Arabia, the UAE, and Kuwait. The company hopes to enter the market of Oman and is currently considering injecting new investments in Africa and the Gulf region.
“The company is interested in entering new markets like Kenya, Tanzania, and Uganda, with the aim of expanding into Africa to increase investments and open new markets for Egyptian exports,” Elsewedy added.
He noted that the African Export-Import Bank (Afreximbank) is cooperating with El Sewedy Electric to provide the necessary funding for establishing new electricity cables, transmission, and meters projects.
El Sewedy Electric has signed contracts with the Arab Contractors to design and establish a dam and a hydroelectric plant on the Rufiji River in Tanzania.
He stressed that President Abdel Fattah Al-Sisi paid great attention to the project, hoping that Egypt can become a leading country in building dams in Africa.