EGX-listed manufacturer Elsewedy Electric opened an EGP 2 bn (c. USD 39.7 mn) cable factory at its subsidiary Elsewedy Industrial Development’s Industrial zone in the Tenth of Ramadan, according to a statement.

All eyes on exports: The factory will have 50% local components and aims to export 50% of its production, including to Europe, Africa, and Gulf countries. The Egyptian Accreditation Council will certify the factory’s facilities so its products can more easily be exported, Industry and Transport Minister Kamel El Wazir said.

By the numbers: The 70k sqm factory will have a production capacity of 4 mn km of fiber-optic cables and 200k km of copper communication cables — including network cables, telephone cables, coaxial cables, and accessories for both copper and fiber-optic networks, in addition to communication racks and cabinets. The project is set to create 1k jobs in the first phase.

If you didn’t know already, wires and cables make up the lion’s share of Elsewedy Electric’s revenues, with the segment making up 61% of its total revenues during 3Q 2024.

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