Cairo – Mubasher: El Sewedy Electric for Trade and Distribution, a subsidiary of Elsewedy Electric Co, has signed an EGP 1.7 billion contract with state-run Egyptian Electricity Transmission Co. (EETC).
The turnkey contract includes designing, supplying, and building the Benban-Naga Hamady two lost 500-kilovolt overhead transmission lines with a total length of 195 kilometres, Elsewedy said in a statement to the Egyptian Exchange (EGX) on Thursday.
The project will be implemented within six months from the date of signing the contract, the company indicated.
It is worth noting that Elsewedy Electric holds a 99.8% stake of Elsewedy Electric Co for trade and distribution.
In January, Elsewedy Electric announced that it was considering a number of infrastructure projects in the New Administrative Capital with total investments of up to EGP 2 billion.
