El Sewedy Cables has not reached any initial agreement with the Ethiopian government about establishing an industrial zone, said investor relations manager Ahmed El-Homosany, Al-Masry Al-Youm reported.
The Ethiopian government decided earlier to set up the first industrial zone on 2 million square meters to serve Egyptian investment projects.
El-Homosany added that negotiations with the Ethiopian government started in December and no agreement has been reached yet.
El Sewedy applied 95 percent of its plans through its expansions in 20 Arab countries, he added.
Talks are also ongoing with the Pakistani government to start a 50 MW power project.