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This facility will be the first of its kind in the region and only the sixth worldwide. Spanning 500,000 square meters, the factory will feature a 180-meter-high cable manufacturing tower.
Egypt’s Holding Company for Maritime and Land Transport signed a Memorandum of Understanding (MoU) with Elsewedy Electric to establish a USD 500 million 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. Spanning 500,000 square meters, the factory will feature a 180-meter-high cable manufacturing tower.
The factory will become a major export hub, with 100% of production exported, strengthening Egypt’s position as a major supplier of submarine cables in Europe, the Middle East, and Africa.
The new factory will be part of a larger 6-million-square-meter industrial and logistics zone in Damietta Port. The project will be led by Elsewedy Industrial Development, working alongside a newly formed joint venture responsible for managing the zone.
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The development is expected to attract industries beyond cable manufacturing, with demand for sectors such as food processing, automotive, and petrochemicals, according to the company’s statement.
