ELSEWEDY ELECTRIC for Transmission & Distribution to build a substation with the National Electricity Company of the Democratic Republic of the Congo with 38.6 million USD

Cairo: ELSEWEDY ELECTRIC S.A.E. (EGX: SWDY.CA), the leading Integrated Energy and Infrastructure Solutions Provider in the Middle East and Africa, through its subsidiary ELSEWEDY ELECTRIC for Transmission & Distribution of Energy signed on the 6^th of August 2020, in the Democratic Republic of the Congo a contract with the “SOCIETE NATIONALE D ELECTRICITE” (SNEL) to build a 220- 15/6.6 kV high voltage distribution substation in the city of Kasumbalesa, province of Haut - Katanga, with a value of 38.6 million USD. The project is strategic due to:

• Enabling efficient management of the flow of energy exchanged between the electricity grid of Southern Africa (SAPP) and that of the DRC;
• Improving energy exchanges and the measurement of this energy exchanged between the DRC and Zambia;
• Increasing the rate of electricity supply to the province and the country;
• Promoting the socio-economic development of KASUMBALESA and its surroundings.

ELSEWEDY ELECTRIC’s scope of work covers engineering, procurement and construction (EPC) of the entire project on turnkey-basis; and should be completed within 18 months from the project’s commencement date.

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This press release, are available at: http://ir.elsewedyelectric.com/en/news 

Contact for Journalists
& Investor Relations contact information:
Mr. Tarek Yehia, Senior Investor Relations Manager
email: tarek.yehia@elsewedy.com
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Tel. +20 2 27599700 [60-lines]
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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 31^st 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 

© Press Release 2020