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Egyptian electrical company mulls over localization of production in Belarus
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MINSK, 7 June (BelTA) - Egyptian electrical equipment manufacturer El Sewedy Electric Group is considering the possibility of localizing production in Belarus, BelTA learned from the National Agency of Investment and Privatization.
Following the Belarusian-African business forum that took place in Minsk, the agency hosted a meeting of business circles, representatives of the agency and Mogilev Free Economic Zone. The parties discussed the prospects of investment and economic cooperation between Belarus and Egypt. The meeting also comprised a presentation of the country's business climate.
“One of Africa's largest manufacturers of electrical cable products and electrical transformers, El Sewedy Electric Group, was particularly interested in investing in Belarus,” the agency said. The parties exchanged opinions about the prospects of investing in the industrial sector of Belarus, the possibility of establishing joint ventures with Belarusian companies to produce electrical cables and electrical transformers.
El Sewedy Electric Group has been operating since 1938 and currently employs 12,000 specialists. In 2019, the company’s turnover was $2.76 billion. The company produces and sells electrical cables and wires, transformers, telecommunications equipment, generators of wind power substations, measuring instruments. It also provides services for the construction of turnkey power plants, including wind power plants, energy transportation and distribution systems.
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