Elsewedy Electric, Egyptian engineering services company, is keen on expanding production in Pakistan after acquiring Validus Engineering Pakistan. This was announced by the Minister of State and Board of Investment (BOI) Chairman, Atif Bokhari.
Atif took to Twitter and said that the Managing Director of Elsewedy Electric, Sherif Abo Elhassan, reached out to him to discuss investment opportunities in Pakistan.
Mr. Sherif Abo Elhassan, Managing Director, Elsewedy Electric called on me today to discuss investment opportunities in Pakistan. The Egyptian company recently acquired 100% equity stake in Validus Engineering Pakistan and has plans to boost production capacity to not only..1/3
— Atif Bokhari (@AtifRBokhari) May 25, 2021
He wrote, “The Egyptian company recently acquired 100% equity stake in Validus Engineering Pakistan and has plans to boost production capacity to not only meet domestic demand but also support regional export.”
He added that the Egyptian company has also shown interest in investing in infrastructure and construction projects available on BOI’s Projects Portal. “It is heartening to see that BOI’s efforts for investor facilitation through online availability of investment-related information, is culminating into potential ventures”, Atif wrote, adding, “I have assured Mr. Sherif of BOI’s support to facilitate Egyptian investment in Pakistan.”
