Cairo – Mubasher: The Egyptian Exchange (EGX) decided to suspend trading on Elsewedy Electric Co’s stock on Thursday until the company reply to the EGX’s inquiries.
The EGX is waiting for Elsewedy’s response over what was published in one of the newspaper under the headline of “Elsewedy captures EGP 1.5 billion operations from Walideya power plant in Assuit”, the EGX highlighted in a statement on Thursday.
Given Elsewedy Electric is in talks with the New and Renewable Energy Authority (NREA) over establishing a wind power plant in the Gulf of Suez.
In March, Elsewedy Electric signed a memorandum of understanding (MoU) with Japan’s Marubeni to set up two 500-megawatt wind farms.
