El-sewedy Family's Elsewedy Electric Lands 60 Million Deal For Egypt's Textile Transformation
- Elsewedy Industrial Development partners with Chinas Kingdom Holdings to establish a 60 million advanced textile facility in Industria Sadat.
- The project aligns with Egypts strategy to double textile and garment exports by 2026.
- The landmark deal is expected to generate 300 million in annual sales and create 1,500 jobs by 2026.
Elsewedy Industrial Development, a subsidiary of multinational cable and electrical equipment manufacturer Elsewedy Electric, led by Egypts El-Sewedy family, has inked a 60 million agreement with Chinas Kingdom Holdings to transform the countrys textile industry.
The landmark deal, supported by the Egyptian Commercial Service ECS and facilitated by the General Authority for Investment and Free Zones GAFI, will establish a state-of-the-art private free zone in Industria Sadat, spanning 50,000 square meters.
A milestone in Egyptian-Chinese collaborationThe deal, signed by Mohamed AlKammah, CEO of Elsewedy Industrial Development, and Ren Weiming, Chairperson and CEO of Kingdom Holdings, marks Kingdoms first venture in Egypt.
The new facility, slated to open in 2026, will specialize in advanced textile production, leveraging cutting-edge technologies to meet international standards and bolster Egypts global competitiveness in textiles.
This initiative underscores our commitment to fostering export-driven projects and aligns with the governments vision to double textile and garment exports by 2026, said AlKammah. The textile sector, one of Egypts most competitive industries, saw exports of 1.2 billion in 2023, with projections of 1.4 billion by 2025.