Cairo – Mubasher: Elsewedy Electric announced that its subsidiary Elsewedy Electric for Trading and Distribution has inked an engineering, procurement, and construction (EPC) contract worth EGP 308 million.
Under the deal, the leading integrated energy solution provider in the Middle East and Africa will establish a transmission line and an internal network for the Canal Sugar Company, according to a statement to the Egyptian Exchange (EGX) on Tuesday.
With a value of EGP 255 million, a 33-kilovolt (KV) internal network with a length of 180 kilometres will be constructed on turnkey basis.
The project will be carried out over a period of 24 months starting from the date of signing the deal and receiving the down payment.
The agreement also includes the establishment of a 33-KV transmission line valued at EGP 52.8 million on turnkey basis to be implemented over a period of six months starting from the date of signing the agreement and receiving the advance payment.
It is noteworthy that the value of contracts signed between Elsewedy Electric and Canal Sugar Company reached EGP 753 million.
