Elsewedy Electric's unit signs $29.93mln contract to build electrical network

The EPC contract will be implemented over an 8- month period.

  
Image used for illustrative purpose. A view of the turbid waters of the Nile, which is caused by silt from the flooding of the river, in Cairo March 21, 2014.

Image used for illustrative purpose. A view of the turbid waters of the Nile, which is caused by silt from the flooding of the river, in Cairo March 21, 2014.

REUTERS/Amr Abdallah Dalsh

Egypt - Elsewedy Electric (SWDY) announced today that its subsidiary Elsewedy Electric for Trading & Distribution signed a new contract to build an electrical network to electrify 50,000 acres in East Owainat with a value of EGP 475 million on turnkey basis.

The EPC contract will be implemented over an 8- month period.

In 2019, Elsewedy Electric posted a consolidated net profit of EGP 4,163,107,975, a decline from EGP 5,109,679,722 in 2018, taking into account the minority rights.

Standalone profit stood at EGP 2,414,827,017 in 2019, compared to EGP 2,242,605,109 a year earlier.

Elsewedy Electric for Trading & Distribution is engaged in the execution of high voltage transmission lines for more than 1000 km with both (220 KV & 500 KV) and substations (220 KV & 500 KV) within Egypt and Africa.

 

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