Cairo – Mubasher: Elsewedy Electric Co announced that its subsidiary Elsewedy Electric for Trading and Distribution signed a new contract to implement the completion of the first stage of infrastructure works in the south valley development project.
The EGP 711 million contract includes the establishment of electrical and mechanical works, road works, and water networks on a turnkey basis over a period of three months from the date of receiving the site, the company said in a bourse disclosure on Tuesday.
During the first nine months of 2020, Elsewedy Electric Co achieved net profits of EGP 1.93 billion, down from EGP 2.78 billion in the year-ago period, including minority shareholders’ rights.
