Elsewedy Electric, Algeria Investment Promotion Agency sign $2.5 billion MoU to drive industrial growth

Elsewedy Electric Algeria and the Algerian Investment Promotion Agency (AAPI) have signed a landmark Memorandum of Understanding (MoU) outlining investment intentions worth US$2.5 billion, marking one of the most significant commitments unveiled during the Intra-African Trade Fair (IATF 2025).

The MoU paves the way for several large-scale industrial projects in strategic sectors, including the electrical industry, irrigation systems manufacturing, renewable energy solutions, and other priority areas critical to Algeria’s economic diversification.

Speaking at the signing ceremony in Algiers, Algeria on Monday, Mostafa Awad, PDG of Elsewedy Electric Algeria, said the agreement demonstrates the company’s confidence in Algeria’s industrial future and its central role in Africa’s economic transformation.

“This MoU represents not only an investment in Algeria but also an investment in Africa’s future. With an estimated US$ 2.5 billion in projects, we aim to strengthen industrial capacity, create jobs, and enhance technology transfer while aligning with the African Union’s vision of accelerating intra-African trade and industrialization,” Awad said.

He added that Algeria’s strategic position and policy reforms make it an ideal partner for regional and continental expansion.

The Algerian Investment Promotion Agency (AAPI) described the agreement as a milestone that reflects the country’s ambition to attract world-class industrial players and boost value-added manufacturing.

The announcement comes against the backdrop of IATF 2025 in Algiers, whose theme underscores “Boosting Intra-African Trade for a Sustainable Future: Innovation, Value Addition, and Green Industrialization.

Elsewedy Electric, a global leader in integrated energy and infrastructure solutions, already has a presence across more than 19 African countries.

The new partnership is expected to further bolster Algeria’s role as an industrial hub while contributing to wider continental goals under the African Continental Free Trade Area (AfCFTA).

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