Elsewedy Electric Group intends to establish three logistics centres in Kenya, Djibouti, and Tanzania in the coming period. Ahmed Elsewedy, CEO of the group, said that the three centres will be used to store Egyptian goods exported by his group, as well as other Egyptian companies that want to export to the African market to reduce the shipping time needed to reach African countries.
Elsewedy told Daily News Egypt that the biggest problem in exporting to Africa is the lengthy time needed for shipping, as it could take up to three months. He noted that the logistics centres will provide storage facilities for all goods to be ready for supply immediately after contracting. He added that the group discussed the idea of the centres with officials from Kenya, Djibouti, and Tanzania, and they were very enthusiastic about it.
He pointed out that the group suspended implementation of the Egyptian Industrial Zone in Ethiopia, which has been under negotiations with the Ethiopian government for four years, adding that the group will resume the project when the Ethiopian government agrees to allocate land for the project. He explained that the discussions with Ethiopia did not stop, but the problem is that the Ethiopian government does not have investment land, which makes it difficult to allocate. “We are waiting for the land to begin development. Until then, the matter will remain pending,” he said.
The Ethiopian government had promised to allocate a land of 1-2m sqm to establish an Egyptian industrial zone, like the Chinese and Turkish industrial zones in Addis Ababa. The zone, if completed, will include Egyptian factories operating in the sectors of pharmaceuticals, building materials, food, and meat, as well as some international companies, according to previous remarks by Mohamed El Kammah, general manager of the industrial development sector at Elsewedy Electric.
Elsewedy Electric Group is one of the largest industrial developers in Egypt. Its subsidiary Pyramids Industrial Parks, which was founded in 2007, owns two industrial zones that are the biggest in the 10th of Ramadan City, Industria West on 1m sqm and Industria East on 3m sqm in El Robiky. During the past few days, the President of Zambia Edgar Lungu visited P.I. Parks in the 10th of Ramadan to learn about the company’s experience and move it to his country.
Elsewedy Group’s investments in Africa amount to EGP 3.4bn. The company is further aiming to capitalise on these investments and export more products to Africa in the coming period.