Riyadh - Sharikat Mubasher: Elsewedy Electric, an Egyptian multinational company and a global leader in integrated infrastructure solutions, is currently implementing projects valued at nearly $3 billion in Saudi Arabia, including power plants and transmission grids, reinforcing its presence in the Saudi energy and infrastructure sector, according to the Group Chief Financial Officer, Ahmed Shokry.

In an interview with Alarabiya Business, Shokry stated that the group has invested more than $300 million over the past two years to expand its existing factories in the Kingdom and establish new ones, emphasizing that Saudi Arabia is one of the group’s most important markets in the upcoming phase.

He added that Elsewedy Electric’s total project portfolio currently stands at around $6.5 billion, noting that it had ranged between $5 billion and $5.5 billion over the past few years.

In 2024, Elsewedy Electric announced a partnership with Siemens to develop a power plant in Rabigh, with investments of $800 million.