Cairo - Mubasher: Elsewedy Electric Co announced that its subsidiaries El Sewedy Cables and Egytech Cables have signed a new agreement with the Egyptian Electricity Transmission Company (EETC) to supply and install 220-kilovolt (kV) ground cables to connect North Cairo Station with Bahtim Substation.
The EGP 192 million project will be implemented over a seven-month period on a turnkey basis, the company said in a bourse disclosure on Monday.
Elsewedy Electric owns 99.8% of El Sewedy Cables and 99.9% of Egytech Cables.
In the first quarter (Q1) of 2021, Elsewedy Electric Co. reported consolidated net profits of EGP 769.49 million, up from EGP 463.69 million in the year-ago period, including minority shareholders' rights.
