Cairo – Mubasher: Elsewedy Electric Co for trade and distribution, a subsidiary of Elsewedy Electric Co, will establish Borg El Arab - Mersa Matruh electrically interconnection project in favor of the Egyptian Electricity Transmission Co’s (EETC).
The project is scheduled to be implemented in six months, Elsewedy Electric highlighted in a bourse filing, pointing out that it will unveil the value of the deal once the contract is signed.
Elsewedy Electric’s distribution arm will design, supply, and establish 500-kilovolt overhead transmission lines for EETC, the company noted.
On Tuesday, Elsewedy Electric Co for trade and distribution has signed an EGP 477 million contract with the New Urban Communities Authority (NUCA) to build a substation in Badr City.
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 in Elsewedy Electric Co for trade and distribution.
