El Sewedy Cables Injects Additional Capital in El Sewedy Cables Syria
Thursday, May 10, 2007
Cairo, Egypt- May 10th, 2007: In line with its expansion of capacity across the board, El Sewedy Cables injected an additional US$ 12 million into El Sewedy Cables Syria. This investment will be used to increase the capacity of the Syria plant by 6,900 tons to reach 24,000 tons by the beginning of Q4 2007.
El Sewedy Cables Syria is capitalizing on Syria’s proximity to Iraq, Jordan and Lebanon in addition to serving as an export base to Saudi Arabia. El Sewedy Cables has witnessed a significant increase in demand from Saudi Arabia and will serve the growing demand both from its plants in Egypt and Syria until the Group’s Saudi Arabia plant becomes operational in 2008.
The capacity expansion in Syria is in line with the Group’s strategy of increasing capacity in low cost environments.
Source: El Sewedy Cables