• Elsewedy Electric signed an MoU to establish a USD 500 million subsea cable factory in Damietta Industrial Zone.
• The factory will span 500,000 square meters and feature a 180-meter-high cable manufacturing tower.
• The factory aims to be a major export hub, with 100 percent of its production designated for export.

Damietta Industrial Zone

What happened? Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Lieutenant General Eng. Kamel El-Wazir witnessed the signing of a Memorandum of Understanding (MoU)  between Egypt’s Holding Company for Maritime and Land Transport and Elsewedy Electric.

The MoU details an agreement for the industry giant, Elsewedy Electric, to establish a USD 500 million subsea cable factory in a newly designated industrial zone at Damietta Port. 

The factory will span 500,000 square meters and feature a 180-meter-high cable manufacturing tower. Furthermore, it will be part of  a larger 6 million square meter industrial and logistics zone at Damietta Port.

The Damietta Industrial Zone Deputy Prime Minister for Industrial Development and Minister of Transport and Industry stated that the agreement includes establishing a company responsible for developing, managing, and operating an integrated industrial and logistics zone at Damietta Port. Elsewedy Industrial Development will spearhead the project, overseeing industrial city planning, infrastructure development, and utility installations. Furthermore, the project aims to attract investors in key industries such as food, automotive, engineering, and petrochemicals.

The Minister adds that the first investment in the industrial city in West Damietta will focus on establishing the submarine cable factory for Elsewedy Electric. The factory’s investment of up to USD 500 million over an area of 500,000 square meters. This will be the sixth such factory globally and the first in the Middle East. The factory aims to facilitate the extension of submarine cables between continents. This is to enhance Egypt’s role as a hub for advanced industries.

Elsewedy Electric

What’s New? The new facility will feature a 180 meter tower for submarine cable manufacturing. This advanced infrastructure will support deep-sea cable production, ensuring efficiency and high quality output. Additionally, the factory aims to serve as a major export hub with 100% of its production designated for export, aiming to strengthen Egypt’s economy. 

Why does this matter? 

The Deputy Prime Minister for Industrial Development and Minister of Transport and Industry, adds that submarine cables are vital for intercontinental and international connectivity. Moreover, they are crucial in various fields including renewable energy transmission and in the oil and gas industries.  With this factory, Egypt will be able to offer advanced solutions to support these sectors worldwide.

Engineer Ahmed Elsewedy, CEO and Managing Director of Elsewedy Electric, stated that the project aims to create a competitive environment for various industries. These include renewable energy, automotive, petrochemicals, and advanced engineering. He further emphasized that this initiative aligns with Egypt’s Vision 2030. Furthermore, it aims to enhance economic diversification, support exports, and create new investment opportunities.