Cairo – Mubasher: Elsewedy Electric Co announced that its subsidiary ElSewdy Electric for Trading and Distribution signed a new contract worth EGP 327 million with the Egyptian Electricity Transmission Company (EETC).
Under the deal, the leading integrated energy solution provider in the Middle East and Africa will establish 220-kilovolt (KV) Qusser - Marsa Alam - Baranis overhead transmission lines with a total length of 100 kilometres (km), according to a statement to the Egyptian Exchange (EGX) on Thursday.
With a value of EGP 157 million, a 220-KV transmission line extending 50 km will be established on turnkey basis over a six-month period starting from the date of notice of award.
In addition, a 220-KV transmission line stretching 50 km will also be implemented with a value of EGP 170 million on turnkey basis over a six-month period from the date of notice of award.
During the first half of 2019, Elsewedy Electric Co logged a net profit of EGP 1.95 billion, down from EGP 2.4 billion in the year-ago period.
