El Sewedy to establish six logistics warehouses in sub-Saharan Africa
Elsewedy Electric is working to grow its (already prodigious) exports and aims to establish six logistics warehouses in the next five years, CEO Ahmed El Sewedy told Reuters. El Sewedy said the warehouses would be in Zambia, Djibouti, Kenya and elsewhere. “The company is also studying expanding in Latin America, Kazakhstan, Indonesia and Pakistan within two years,” he added. SWDY’s other overseas expansion plans include a 2 mn sqm state-of-the-art industrial zone that it intends to begin developing in Ethiopia during 2018, General Manager of Industrial Development Mohamed El Kammah said, according to Al Shorouk.
Here at home, the company plans to spend EGP 2 bn through to the end of 2017 to develop a 1 mn sqm area in three industrial zones, El Kammah said, according to Al Mal. The zones will be in 10 Ramadan City, 6 October and Ain Sokhna, he added. The company is “looking for opportunities to develop industrial sites in Al Alamein,” said Elsewedy. El Sewedy also noted that manufacturing in Egypt had become attractive for the domestic and export markets and that his company now exports 70% of its output to over 110 countries, buoyed by the cheaper EGP.