Cairo – Mubasher: Elsewedy Electric Co’s board on Thursday approved the establishment of a new company in Algeria.

The company will specialise in procurement, instalment, building, management, and ownership of solar power plants with 50-megawatt capacity, according to a bourse statement.

It is worth noting that Elsewedy’s net profit slid to EGP 4.163 billion last year, compared to EGP 5.109 billion in 2018, including minority shareholders’ rights.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.