ElSewedy of Egypt to Delay Building Cable Factory in Libya
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ElSewedy Electric, Egypt’s largest publicly traded maker of cables, will delay investing $65 million to build a plant in Libya after unrest in the North African country.
"We were at very preliminary stages and we’ve only made minor investments," said Ahmed El Homossani, head of investor relations at ElSewedy. "We were in the process of getting a piece of land for the project."