The Egyptian company Elsewedy Elecrtic Group sent an offer for the Ethiopia’s Ministry of Industry requesting to establish an industrial zone in Ethiopia.

The Minister in its turn requested for detailed information on the project on matters of area, cost, number of plants and industrial sector.

It was after noticing the huge demand for cable and energy sectors in Ethiopia as well as in the neighboring countries, Elsewedy made an investment of USD 50 Million to establish the first cables manufacturing plant in Ethiopia, Elsewedy Cables Ethiopia PLC. The factory is found in the city of Dukem.

On the other hand, the project of establishing industrial zone is going to be executed in three phases. The stages are said to include industrial zone, a residential city and a services complex which has schools, sports clubs, and hospitals.

Delegation team composed of Ethiopian business tycoons is also expected to pay visit to Egypt in the coming March, Egypt’s Trade and Industry Minister Mounir Fakhri Abdel-Nour said recently.

Source: Egypt Independent