ICEC

Egypt’s ElSewedy unit inks $21.3 mln power deal in Saudi Arabia

A subsidiary of Elsewedy Electric (SWDY.CA) has signed Tuesday a 80 million Saudi riyals ($21.3 million) contract for the natural gas transmission compressor station in Saudi Arabia.

Upon the contract signed on August 16, Elsewedy Power System Projects will carry out designing, supplying, and establishing the Saudi natural gas transmission compressor station on a turnkey basis, the parent company said in a bourse filling on Wednesday.

The project will be executed in 15 months, the company added.

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