ALGIERS – Elsewedy Electric announced on Monday its intention to invest $2.5 billion in Algeria, on the sidelines of the Intra-African Trade Fair (IATF 2025).
This significant investment intention was formalized through a Memorandum of Understanding signed between the Algerian Investment Promotion Agency and the Egyptian company, which has a branch in Algeria.
The memorandum was signed by the Director General of the Algerian Investment Promotion Agency, Omar Rekkache, and the CEO of Elsewedy Electric – Algeria, Mostafa Awad Elhalwani, under the supervision of the Minister of State, Minister of Energy, Mines, and Renewable Energies, Mohamed Arkab, and the Minister of Foreign Trade and Export Promotion, Kamel Rezig.
