Egypt - Cairo: – ELSEWEDY ELECTRIC (SWDY.CA on the Egyptian stock exchange), the leading Wires & Cables and Integrated Energy Solution Provider in the Middle East and Africa, announced today the signing of a new EPC contract with North Cairo Electricity Distribution Company (NCEDC) to upgrade the electricity Distribution network and to provide smart solution to digitize the network. The contract includes installing 500,000 Smart meters, DMS, AMI and RTU, in addition to the smart ring link panels, with a value of EGP 1.46 Billion.
Elsewedy Electric scope of work includes engineering, procurement and installation of all the project components. This project will help in upgrading the electricity infrastructure in Egypt, reduce the electricity loss, theft and enhance the quality of Network. The project will be implemented over 910 days on Turnkey basis.
-Ends-
Contact for Investor Relations contact information:
Mr. Tarek Yehia, Senior Investor Relations Manager
email: tarek.yehia@elsewedy.com
Address: Plot 27, 1st district, 5th settlement, New Cairo, EGYPT
Tel. +20 2 27599700 [60-lines]
Fax +20 2 27599746
ELSEWEDY ELECTRIC (EGX: SWDY.CA) is a leading provider of integrated energy solutions in Africa and the Middle East, and a significant contributor to economic growth in EGYPT. The Company has a portfolio incorporating all traditional and renewable energy areas along with related services. It is one of the largest worldwide manufacturers of cables and meters, especially smart meters. It is also one of the regional and continental leaders in electrical contracting and manufacturing of transformers, insulators, and other electrical products. With a wealth of local experience and manpower, ELSEWEDY ELECTRIC is committed to help provide the countries, in which the Company operates, with a reliable and affordable power supply. In fiscal 2019, which ended on 31st of December 2019, ELSEWEDY ELECTRIC generated revenue from continuing operations of EGP 46.6 billion and net income of EGP 4.0 billion. At the end of December 2019, the company had around 15,000 employees worldwide. Further information is available on the Internet at www.elsewedyelectric.com
For media inquiries, please contact:
Mohamed Kandil
TRACCS
Mohamed.kandil@traccs.net
© Press Release 2020
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
