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Elsewedy Electric, the Cairo-based multinational cable and electrical equipment manufacturer controlled by the Egyptian billionaire El-Sewedy family, plans to invest roughly $500 million to expand operations in Saudi Arabia and Qatar.
Ahmed Elsewedy, the CEO of Elsewedy Electric, revealed that around $400 million (SAR 1.5 billion) will be directed toward Saudi Arabia. The company intends to build nine new factories, including two in Yanbu—one producing specialized cables and another copper rods. The Yanbu copper rod plant, developed in partnership with Alfanar, has an annual capacity exceeding 130,000 tonnes.
Additional investments will fund facilities in Riyadh to manufacture cable accessories, fiberglass, electric vehicle chargers, and water meters. A new plant in Dammam will focus on power transformers. Elsewedy Electric’s industrial operations in Saudi Arabia currently generate $533 million, alongside ongoing engineering and construction projects valued at $4 billion.
Qatar expansion under review
In Qatar, the company has allocated $67 million (QAR 250 million) to establish factories producing copper and aluminum rods and power distribution transformers. Ahmed Elsewedy said the board is reviewing these projects, which could begin production by 2027 if approved.
Elsewedy Electric’s existing business in Qatar totals roughly $549 million (QAR 2 billion), with exports surpassing $150 million this year to Gulf markets, Australia, and New Zealand. This month, the company partnered with Raneen Energy to enhance Qatar’s power systems and increase local manufacturing capacity.
Strong growth across the region
Since it was founded in 1938, Elsewedy Electric has grown from a family-owned cable manufacturer into a global leader in energy, digital, and infrastructure solutions with operations in 15 countries across the Middle East, Africa, and beyond.
The El-Sewedy family owns 68.1 percent of the company, with CEO Ahmed Elsewedy holding 25.52 percent. Under his leadership. the firm has become a key partner in industrial projects aligned with national development priorities.
Elsewedy Electric reported $298.5 million in profit for the first nine months of 2025, with revenue reaching a record $4.22 billion. In September, the company announced a $2.5 billion investment in Algeria to build new factories and expand renewable energy capacity.
