Egyptian billionaire Ahmed El-Sewedy just committed $200 million to three new industrial projects

Elsewedy Electric, the Egyptian cable and electrical equipment manufacturer led by billionaire Ahmed El-Sewedy, has announced three new strategic industrial projects with combined investments of $200 million as part of an accelerating push to expand Egypt's industrial manufacturing base and build the infrastructure for a domestic circular economy.

The three projects, disclosed at a high-profile industrial launch event in Cairo and reported by Zawya, International Business Magazine and WAYA Media across June 24 and 25, 2026, represent Elsewedy's most concentrated single-announcement industrial commitment in recent years. The company said the projects are designed to position Egypt as a regional manufacturing and circular economy hub, aligning with the government's National Industrial Strategy 2026 to 2030 which targets a significant expansion of industrial exports as a proportion of national output.

The circular economy angle is central to Elsewedy's stated rationale for the investment. The company has identified waste valorisation, recycled materials processing and closed-loop manufacturing as areas where Egypt can develop comparative advantage relative to other regional manufacturing centres, particularly in cables, electrical equipment and industrial infrastructure components. Elsewedy's established position in the cables segment, where it reported revenue growth of 66.4 percent to EGP 137.2 billion ($2.71 billion) in 2024, gives it a natural feedstock for circular economy manufacturing initiatives that recycle and reprocess electrical and industrial materials.

The announcement builds on an intensive period of deal activity that has positioned Elsewedy as one of the most globally connected Egyptian industrial companies operating today. In May 2026, a subsidiary signed a $1 billion contract as part of an Egyptian-Italian consortium developing the second phase of the Hassi Bir Rekaiz oil field in Algeria in partnership with Sonatrach and PTT Exploration and Production. The company separately secured a $60 million Kuwait contract for high-voltage cable installation in a major national housing project, extended its presence in Saudi Arabia and Qatar through planned investments totalling $500 million in cable plants and copper rod facilities, and completed the establishment of ROX ESI Egypt, a joint venture with Abu Dhabi-headquartered electric vehicle company ROX that will manufacture luxury electric vehicles at Elsewedy's Sixth of October industrial complex from mid-2027.

Ahmed El Sewedy, CEO of Elsewedy Electric, met Egyptian Prime Minister Mostafa Madbouly in May 2026 to outline the group's expansion trajectory, describing automotive manufacturing alongside the circular economy initiatives as the most significant new industrial directions for the group. He credited the company's record-breaking 2024 results — revenue of EGP 231.98 billion ($4.58 billion), up 52.4 percent, and net profit of EGP 17.46 billion ($344.74 million), up 72.6 percent — to a diversification strategy that has moved the group well beyond its cable and electrical equipment origins into engineering services, energy solutions, digital infrastructure, automotive manufacturing and now circular economy industrial development.

The El Sewedy family, including Ahmed and his brother Sadek who serves as non-executive chairman, controls approximately 51 percent of the company's shares. Their combined stake is currently valued at approximately $1.8 billion on the Egyptian Exchange, reflecting a sustained rally in Elsewedy Electric's share price as investors have responded positively to the group's expanding international deal pipeline and record domestic financial results. Founded in 1938 and operating across 19 countries with assets exceeding $5 billion, Elsewedy Electric is the largest industrial company of its kind headquartered in Egypt and one of the most geographically diversified Egyptian multinationals in operation.