Cairo – Mubasher: Egytech Cables, a subsidiary of Elsewedy Electric, has signed an EGP 225 million contract with Egyptian Electricity Transmission Company (EETC) for substation projects.
Under the agreement, power transformers at Imbaba’s plant will be connected with El Maamadya’s plant, Elsewedy highlighted in a filing to the Egyptian Exchange (EGX) on Tuesday.
Earlier this month, the Egyptian cable maker announced signing an EGP 1.23 billion contract to build a 500-kilowatt power transformers plant in the New Administrative Capital.
Elsewedy Electric owns a 99.80% stake in Elsewedy Electric Co for trade and distribution.
Moreover, Elsewedy Electric Co’s arm for trade and distribution signed an EGP 2.12 billion contract this month to implement the Borg El Arab-Mersa Matruh electricity link-up project.
In December, Elsewedy Electric for Trade and Distribution won EETC’s bid to establish Borg El Arab - Mersa Matruh electricity interconnection project.
