Cairo - Mubasher: Elsewedy Electric KSA, a subsidiary of Elsewedy Electric Company, has inaugurated a $40 million factory in Riyadh’s Elsewedy Industrial Complex, according to a press release.

The strategic investment exceeding SAR 75 million is dedicated to the production of cable accessories and glass-fiber-reinforced polymer poles.

Meanwhile, the new production line introduces a comprehensive range of low-, medium-, and high-voltage accessories that will be manufactured in a facility spanning 37,395 square meters (m2) and has become the first local factory accredited by the Saudi Electricity Company (SEC).

Moreover, it is currently the only Saudi factory supplying medium-voltage (MV) cable accessories domestically, with plans to export to the GCC countries in the coming years.

Ahmed Elsewedy, the CEO of Elsewedy Electric, said: "We take great pride in contributing to the advancement of the Kingdom’s industrial sector, and we remain committed to supporting its growth in alignment with the Kingdom’s vision for industrial growth."

He further stated that this inauguration reflects the company’s commitment to strengthening local content and advancing technical expertise.

The CEO added that the factory also supports sectors such as infrastructure, energy, industry, construction, telecommunications, and engineering, in alignment with the goals of Saudi Arabia’s Vision 2030 and key performance indicators for localization.

In October 2025, the Financial Regulatory Authority (FRA) rejected the mandatory tender offer (MTO) submitted by Sagasse Investment Company to fully acquire Elsewedy Electric.