Egyptian billionaire Ahmed El-Sewedy’s firm on track to finish $2.9 billion Tanzanian dam

Tanzania’s ambitious $2.9-billion mega development project, the Julius Nyerere Dam, spearheaded by a consortium led by Elsewedy Electric, a prominent multinational cable and electrical equipment manufacturer mainly owned by the Egyptian billionaire El-Sewedy family, is on track to commence power generation in mid-February 2024.

In a recent meeting with Egyptian Prime Minister Mostafa Madbouly, Egyptian billionaire Ahmed El-Sewedy, the CEO of Elsewedy Electric, disclosed that the dam, measuring 1,025 meters in length and boasting a storage capacity of approximately 34 billion cubic meters of water, is now 94 percent complete and undergoing rigorous testing.