Cairo – Mubasher: Iskraemeco-Egypt, a subsidiary of Elsewedy Electric Co, signed a contract to supply smart pre-paid meters to Jirama, a state-owned electric and water utility company in Madagascar.
The deal includes the supply of 485,000 smart pre-paid meters at a value of $36.7 million over a three-year period, Elsewedy Electric Co said in a filing to the Egyptian Exchange (EGX) on Wednesday.
It is noteworthy that during the first nine months of 2019, Elsewedy Electric Co logged a net profit of EGP 2.78 billion, down from EGP 3.57 billion in the year-ago period, including minority shareholders’ rights.
