Arab Finance: Seven Egyptian investors have signed memoranda of understanding (MoUs) to allocate industrial land for building factories producing strategic products at Elsewedy Industrial City in Tanzania, according to a press release.
The agreements were exchanged with Ahmed Elsewedy, the CEO of Elsewedy Electric, and Mohamed El-Kammah, the CEO of Elsewedy Industrial Development, in the presence of several ministers.
The planned projects aim to inject significant Egyptian investments in Tanzania and localize national expertise within Africa across vital industrial sectors, including pharmaceuticals, engineering, and food processing.
The agreements align with Elsewedy Industrial Development's objectives to establish integrated industrial hubs across the region. The company aims to go beyond traditional industrial land development by securing an enhanced business ecosystem capable of attracting both domestic and international investors.
In Tanzania, the company has transferred Egypt's experience in developing and managing industrial cities to one of Africa's promising markets. The project offers an integrated industrial and logistics ecosystem designed to support companies seeking to expand into East and Central African markets.
Elsewedy Industrial Development manages one of the region's largest private-sector industrial land portfolios, exceeding 60 million square meters. Its operations span key economic hubs, including 10th of Ramadan City, Sadat City, 6th of October City, and the Suez Canal Economic Zone (SCZONE) in Ain Sokhna.
The Tanzanian industrial project adds 2.6 million square meters to Elsewedy Industrial Development’s portfolio, positioning it as a strategic export hub for companies targeting East and Central African markets.
The signing comes within the framework of President Abdel Fattah El-Sisi’s participation in the Egypt-Tanzania Business Forum in Dar es Salaam.
In 2024, Rosetta for Energy Solutions, a subsidiary of TAQA Arabia, signed an MoU with Elsewedy Industrial Development to supply liquified natural gas (LNG) to Elsewedy Industrial City in Tanzania.
