Elsewedy Electric’s arm wins EGP 1.23bn substation contract
Elsewedy Electric SWDY 9.29% 198.58 16.88
Cairo – Mubasher: Elsewedy Electric on Tuesday announced it signed an EGP 1.23 billion contract to build a 500-kilowatt power transformers plant in the New Administrative Capital.
The company’s unit, El Sewedy Electric for Trade and Distribution, has won the construction work of the aforementioned electrical substation, which is scheduled to be delivered in December 2018, Elsewedy added in a statement to the Egyptian Exchange (EGX).
Given that Elsewedy Electric owns a 99.80% stake in Elsewedy Electric Co for trade and distribution.
On Monday, El Sewedy Electric for Trade and Distribution has signed an EGP 2.12 billion contract to implement Borg El Arab - Mersa Matruh electrically link-up project.
On 27 December 2017, Elsewedy Electric Co’s arm for trade and distribution won the Egyptian Electricity Transmission Co’s (EETC) bid to establish Borg El Arab - Mersa Matruh electrically interconnection project.
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