Cairo – Mubasher: Elsewedy Electric Co announced that its subsidiary Elsewedy Electric Transmission and Distribution signed a new contract with Kuwait’s Ministry of Electricity and Water.
The KWD 16.1 million contract includes the supply and installation of 400-kilovolt overhead transmission lines for Boubyan main substation, Elsewedy Electric said in a bourse disclosure on Wednesday.
The project will power the island of Boubyan and Mubarak Al Kabeer Port, currently being constructed by the Ministry of Public Works.
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.
