CAIRO – 9 March 2025: Egypt’s Holding Company for Maritime and Land Transport has signed a Memorandum of Understanding (MoU) with Elsewedy Electric to establish a 500 million dollar subsea cable factory in the newly designated industrial zone at Damietta Port, according to a statement released by the Ministry of Transportation.
This facility will be the first of its kind in the region and only the sixth worldwide. Covering 500,000 square meters, the factory will include a 180-meter-high cable manufacturing tower.
The factory is set to become a key export hub, with 100 percent of its production designated for export.
This move will reinforce Egypt’s role as a leading supplier of submarine cables across Europe, the Middle East, and Africa.
The new factory will be part of a larger 6 million square meter industrial and logistics zone at Damietta Port.
The project will be spearheaded by Elsewedy Industrial Development, in partnership with a newly formed joint venture that will oversee the management of the zone.
Beyond cable manufacturing, the development is expected to attract industries such as food processing, automotive, and petrochemicals, reflecting growing demand in these sectors, according to the company’s statement.
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