Elsewedy Industrial Development which is a subsidiary of Elsewedy Electric Egypt has just recently made an announcement on launching the massive Elsewedy Industrial City in Tanzania that is foreseen to attract more than $400 million investments. The industrial city will also have the potential of generating approximately 50,000 employment opportunities which will be of great benefit in industrial growth in the country.
The SGR system that will be present shall connect the city of Dar es Salaam to this upcoming Elsewedy Industrial City thus reducing quite significantly the time taken in order to travel between the two points to approximately 45 minutes. This new city was presented and showcased during the African Investment Forum-of Egyptian industries based in Tanzania, which was held by the General Authority for Investment and Free Zones (GAFI). In attendance at the meeting were the Executive Director of Tanzania Investment Center, Gilead Teri, Al-Wathiq Billah who is the head of Egyptian Commercial Service, the Chief Executive Officer of SD, the president and the CEO of Elsewedy Electric Ahmed Elsewedy and a total of 100 journalists from Egypt.
Elsewedy Industrial City Size
The Elsewedy Industrial City (EIC) that will be established in Tanzania is planned to be one integrated industrial zone and city is also expected to cover an impressive area which adds up to a total of 2.6 million square meters. Strategic industries will be established and also residential areas and amenities that will be situated at a distance of 15 kilometers away from the Kwala Dry Port, which possesses the Ruvu station of the Standard Gauge Railway that stretches across 2,000 kilometers.
The main discussion at the forum was the investment opportunities and incentives in Tanzania that shall enable the fostering of relationships partnerships in the sectors of engineering, construction and even pharmaceuticals. The role of SD in driving investments in the country was also highlighted.
According to the president of GAFI, Hosam Heiba, this Elsewedy Industrial City project is set to enhance the existing Egyptian- Tanzania economic relations. Moreover, he got to highlight the opportunities derived from their strategic locations and environments of business. GAFI has also gotten to sign MoUs with quite a number of African institutions in order to boost Egyptian investments. Currently, the existing Egyptian investments in the African continent have attained $10.2 billion mark. This is according to the Minister in charge of Trade and Industry in Egypt, Mr. Ahmed Samir.