Cairo – Mubasher: Elsewedy Electric Company said Thursday that its subsidiary El Sewedy Electric for Trade and Distribution has signed two contracts worth EGP 3.3 billion to set up two electric lines as part of connecting Upper Egypt to the national grid.
The contract’s value will be paid in both local and foreign currency at EGP 2.02 billion and $69.07 million (EGP 1.25 billion), according to a statement to the bourse.
The two lines’ capacity is 500 kilovolts, and they are set to be completed within six months starting from the signing date.
