ArabFinance: Elsewedy Electric for Trading and Distribution, a subsidiary of the listed Elsewedy Electric (SWDY), signed a contract with Upper Egypt Electricity Distribution Company to carry out an electricity project in Toshka, according to a September 6th Cabinet statement.

The contract value stands at EGP 100 million, and will cover establishing a 40,000-feddan external electricity network.

The development is due completion in the beginning of October, the statement said.

The contract covers the entire consulting, design, supervision, implementation, and installation works of the external power grid.

Elsewedy Electric’s unit recently penned EGP 355.5 million deal to build a new substation.

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