Egypt’s El Sewedy Electric, Algeria’s Sonelgaz sign MoU to expand power projects

Egypt’s El Sewedy Electric signed on Thursday a memorandum of understanding with Algerian state-owned utility Sonelgaz to support electric power development projects in Algeria, as both nations move to scale up cooperation in energy and infrastructure.

The deal was signed during Egyptian Foreign Minister Badr Abdel-Atty’s visit to Algiers, where he met with Algerian Energy Minister Mohamed Arkab. The agreement targets greater involvement of Egyptian firms in Algeria’s electricity sector as part of broader plans to boost bilateral investment.

Minister Abdel-Atty said Egyptian companies are well positioned to support Algeria’s development goals, especially in energy, construction, and infrastructure, citing their strong execution track record across the region.

The move aligns with efforts by the Egyptian and Algerian leadership to revitalise economic ties, with both governments prioritising strategic sectors including manufacturing, mining, and renewable energy, according to a statement from Egypt’s Ministry of Foreign Affairs.

The two sides also discussed convening the second session of the Egypt-Algeria Joint Business Council to facilitate private sector deals and investment flows.

Attribution: Amwal Al Ghad English