Sonelgaz, Elsewedy Electric Sign MoU: New Economic Prospects for Algeria and Egypt
ALGIERS, April 18, 2025 – The Chief Executive Officer (CEO) of Algerian power and gas company Sonelgaz Group, Mourad Adjal, announced that the memorandum of understanding signed on Thursday in Algiers between Sonelgaz and the Egyptian company Elsewedy Electric aims to enhance investment opportunities in Algeria, marking a strategic advancement that will unlock new economic horizons for both countries.
During the signing ceremony, which was held under the supervision of Mohamed Arkab, Minister of State, Minister of Energy, Mines, and Renewable Energies, alongside Badr Abdel-Atty, the Egyptian Minister of Foreign Affairs, Immigration, and Expatriates, Adjal emphasized that “this partnership is founded on a win-win principle and reflects the strong commitment of the nation’s leadership, represented by President Abdelmadjid Tebboune, to revitalize the historical ties between Algeria and Egypt.”
He added, “This initiative will pave the way for new economic opportunities, embodying the shared aspirations of both nations.”
According to Adjal, this collaboration highlights Sonelgaz’s ambition to become “a key player on the African continent and in the Mediterranean region.” He noted that Sonelgaz has emerged as a pioneering and competitive entity in various energy sectors, including equipment manufacturing, engineering, and energy infrastructure development, alongside its extensive expertise in digitization and training.
Ahmed Elsewedy, Executive Director and Chairman of Elsewedy Electric, remarked that this partnership will play “a significant role in the industrialization of the region,” praising the “Algerian workforce and the substantial support from the government in effectively promoting local industry on the ground, rather than through mere promises.”
The memorandum aims to bolster Elsewedy Electric’s investments in Algeria by expanding the activities of its cable manufacturing plant located in Aïn Defla province to include the production of accessories and the manufacture and marketing of energy equipment, particularly with the establishment of a factory for producing insulators in Algeria.
Furthermore, this cooperation involves exploring the feasibility of a joint factory between Sonelgaz and Elsewedy Electric for the production of ultra-high voltage transformers, with the potential to establish a joint venture for constructing power plants in Africa and the Middle East, along with exchanging expertise and providing training.
The implementation of this memorandum will be overseen by a joint committee comprised of representatives from both parties, tasked with identifying new cooperation opportunities, according to details shared during the event.
It is noteworthy that this agreement follows the working visit made by Sonelgaz’s CEO to Egypt last February, where he engaged with several officials and stakeholders in the energy sector.
