ICEC

Elsewedy Electric’s inks 225 mln pounds deal for Egypt’s substation projects

Egypt’s Sewedy Electric Engineering and Trade, a subsidary of El Sewedy Electric Company, has signed an 225 million pounds contract with Egyptian Electricity Transmission Company (EETC) for substation projects.

Under the agreement, power transformers at Imbaba’s plant will be connected with El Maamadya’s plant, Elsewedy highlighted in a filing to the Egyptian Exchange (EGX) on Tuesday.

Earlier this month, the Egyptian cable maker announced signing an 1.23 billion pounds contract to build a 500-kilowatt power transformers plant in the New Administrative Capital.

Elsewedy Electric owns a 99.80 percent stake in Elsewedy Electric Co. for trade and distribution.

Moreover, Elsewedy Electric Co’s arm for trade and distribution signed an 2.12 billion pounds contract this month to implement the Borg El Arab-Mersa Matruh electricity link-up project.

In December, Elsewedy Electric for Trade and Distribution won EETC’s bid to establish Borg El Arab – Mersa Matruh electricity interconnection project.

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