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In alliance with Italy-based SAIPEM MISR For Petroleum Services and Salcef Group, the company submitted its bid to WAPHCO's tender late 2018, according to a statement released to the Egyptian exchange.
The company has been invited for pre-contract negotiations by Egyptian National Railways.
SWDY decided to purchase treasury shares of 54.6 million as a maximum limit. This volume accounts for 2.5% of the company’s total shares, according to a disclosure to the Egyptian Exchange (EGX).
Elsewedy Electric 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.
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