Cairo – Mubasher: Elsewedy Electric Company signed a framework agreement with the Algerian Investment Promotion Agency (AAPI) to expand its business in the industrial and energy sectors.
The EGX-listed company plans to invest $2.50 billion in key sectors across Algeria, including the electrical industry and renewable energy, according to a statement.
It is worth highlighting that the signing came on the sidelines of the fourth edition of the Intra-African Trade Fair (IATF 2025) hosted by Algeria.
In the first half (H1) of 2025, the consolidated net profits attributable to the owners of Elsewedy Electric increased to EGP 8.69 billion from EGP 8.43 billion in H1-24.
