CROSS-BORDER INTERESTS DEVELOP

Several El Sewedy Investments

The El Sewedy Group, in addition to its operations in Egypt, already has or is in the process of setting up cable-making businesses in several other countries of the MENA region, including Saudi Arabia, Sudan, Algeria, Syria, Qatar and Libya. El Sewedy’s first move outside Egypt was GESCO in Sudan, a joint venture with the state-owned Giad Group (Sudan master technology) that produces energy and copper telecom cables. During 2008 El Sewedy established a new plant for production of energy cables and bare overhead conductors in Algeria, with initial capacity up to 12,000 tonnes. In joint venture with local interests, El Sewedy Cables is also planning to build a new plant in Qatar to produce LV, MV and HV cables, coming on-stream by late 2009?/?early 2010. Construction of a new joint venture cable plant in Libya has also been announced. To avoid potential confusion, we point out that Energya Cables (Helal El Sewedy), which has cable manufacturing operations in Egypt and Saudi Arabia (Jeddah Cable), is a separate group from El Sewedy.

 

Others Expand in Jordan

El Sewedy is not the only cable group based in the region to have expanded its interests into other countries. MESC, which is now a listed company in Saudi Arabia, has acquired a stake in Jordan New Cable Co. (JNC) and also controls Sharjah cables in the UAE. MESC and JNC are also expanding in Jordan through a power cable joint venture with Fujikura, as noted below. The Kuwait-based company Gulf Cable has set up a joint venture in Jordan (Gulf Cable and Multi Industries). This joint venture will produce cables, but there are also facilities for manufacture of other products.