Cairo – Mubasher: Elsewedy Electric Co for trade and distribution, a subsidiary of Elsewedy Electric Co, has signed a contract of EGP 477 million with the New Urban Communities Authority (NUCA) to build a substation in Badr City.
The Badr-2 project will be implemented within 12 months, the company added in a statement to the Egyptian Exchange (EGX).
Elsewedy Electric is in talks with the New and Renewable Energy Authority (NREA) over establishing a wind power plant in the Gulf of Suez.
In March, Elsewedy Electric signed a memorandum of understanding (MoU) with Japan’s Marubeni to establish two 500-megawatt wind farms.
Elsewedy Electric owns a 99.80% stake of Elsewedy Electric Co for trade and distribution.
