Daqo Group and Elsewedy Electric Sign MoU, Moving Toward Strategic Partnership to Advance Grid Modernization Across the Middle East and Africa

On October 27, Daqo Group has signed a Memorandum of Understanding (MoU) with Elsewedy Electric, a premier integrated infrastructure solutions provider. This strategic partnership, formalized in Cairo, is set to accelerate the modernization and expansion of power infrastructure across key markets in the Middle East and Africa (MEA). 

The agreement marks a significant step in Daqo Group's international growth strategy, following a high-level meeting between Mr. Xiang Xu, President of Daqo Group, and Mr. Ahmed Elsewedy, President and CEO of Elsewedy Electric.

The partnership will initially focus on Egypt, Libya, and Algeria, with plans to expand across the region. It will cover multiple facets of the power sector, including the supply of power equipment and services, localizing of manufacturing capabilities, and joint execution of infrastructure projects. This joint effort is designed to enhance grid reliability, support network expansion, and facilitate the integration of renewable energy sources, addressing the region's growing power demands.

"Daqo's partnership with Elsewedy Electric extends far beyond a traditional supplier relationship. We are exploring multifaceted cooperation, including potential capital collaboration, to expand our market presence and elevate service capabilities for our clients in the region," said Mr. Xiang Xu, President of Daqo Group.

Mr. Ahmed Elsewedy, President and CEO of Elsewedy Electric, welcomed the agreement and expressed strong interest in visiting Daqo's headquarters and manufacturing facilities in China to further solidify practical cooperation and shared goals. 

A Partnership of Leaders

• Elsewedy Electric, headquartered in Cairo, is a globally recognized force in infrastructure solutions, operating in over 110 countries and reporting revenues exceeding USD 6 billion in 2024. With 34 production facilities across 19 countries, the company brings decades of local market expertise and is a pivotal player in driving smart grid deployment and infrastructure modernization throughout the MEA region. 

• Daqo Group brings over 60 years of industry experience, supporting over 10,000 clients in more than 80 countries. The company's comprehensive portfolio includes medium- and low-voltage switchgear, power transformers, busway systems, prefabricated substations, and advanced energy management systems, backed by 32 manufacturing plants and a robust global supply network.

Looking ahead, the two companies will combine complementary strengths to pursue localized innovation and deliver solutions tailored to MEA client needs. Core objectives include improving reliability, delivering lifecycle value, and increasing grid flexibility to support the region's renewable energy goals. A detailed cooperation agreement is expected to be finalized by the end of 2025. 

This MoU represents a bold step forward in Daqo Group's international expansion and underscores the commitment to strategic collaboration with global industry pioneers.