Egypt's Elsewedy Electric to inject investments in India, Pakistan

The company finalized the acquisition of 95% of PT GG Power Indonesia, and 100% of Validus Engineering PVT LTD.

  
Image used for illustrative purpose. Electricity pylons and power transmission lines are seen along a road in Cairo, Egypt September 10, 2017.

Image used for illustrative purpose. Electricity pylons and power transmission lines are seen along a road in Cairo, Egypt September 10, 2017.

REUTERS/Amr Abdallah Dalsh
 

Egypt - Elsewedy Electric intends, in line with its expansion plans in Asia, to inject investment in meter manufacture in India and Pakistan, Asharq cited the company’s CEO Ahmed Elsewedy.

The company finalized the acquisition of 95% of PT GG Power Indonesia, and 100% of Validus Engineering PVT LTD.

Elsewedy Electric will distribute annual cash dividends of EGP 0.40 per share on May 24th.

The listed company is a provider of integrated energy solutions in Africa and the Middle East, and a manufacturer of cables and meters, especially smart meters. It has a portfolio incorporating all traditional and renewable energy areas along with related services.

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