The Ethiopian Ministry of Industry has received an offer from Elsewedy Electric Group to establish an industrial zone in Ethiopia according to a statement from Elsewedy.
The Ethiopian government requested the details of the project in terms of area, cost, number of plants, and industrial sectors, ElSewedy said.
The project is expected to be executed over three phases and will include, in addition to the industrial zone, a residential city and a services complex that consists of schools, sports clubs, and hospitals, it explained.
Elsewedy Electric has become a significant contributor to the economic growth in Egypt through its extensive holdings, both locally and outside of Egypt in several other Middle Eastern and African countries, as well as some European and Asian countries.
Due to the huge demand of cables and energy sectors in Ethiopia and the surrounding markets, Elsewedy Cables Holding Co. has taken the strategic decision to invest US$50 million in Elsewedy Cables Ethiopia PLC, the first cables manufacturing plant in Dukem, Ethiopia.
An Ethiopian delegation of businessmen is expected to visit Egypt in March 2015, Trade and Industry Minister Mounir Fakhri Abdel-Nour said recently.
