# Elsewedy Electric targets EGP 5 billion investment in 2024

Elsewedy Electric plans to invest approximately EGP 5 billion in capital expenditures during 2024, allocated to new projects and completing existing investments. The company aims to develop new products and increase production capacities, with a focus on Saudi Arabia where it will start operations in Q3 2024.

- Type: Investment
- Announced: 2024-05-08
- Where: Egypt
- Value: $104.0M (5.00B EGP)
- Status: announced
- Products: cables
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Elsewedy Electric](https://endata.com/companies/15852.md)

## Sources

- [alborsaanews.com](https://alborsaanews.com/2024/05/08/1790334), 2024-05-08: "الشركة تستهدف استثمار نحو 5 مليارات جنيه كنفقات رأسمالية فى الموازنة الاستثمارية خلال العام الجارى"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.