Elsewedy Electric for Trading & Distribution signs new EPC contract to build electrical network with EGP 475 Million in East Owainat, Egypt

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

  
Elsewedy Electric for Trading Distribution signs new EPC contract to build electrical network with EGP 475 Million in East Owainat, Egypt

ELSEWEDY ELECTRIC (SWDY.CA on the Egyptian stock exchange), the leading Wires & Cables and Integrated Energy Solution Provider in the Middle East and Africa, announced today that its subsidiary ELSEWEDY ELECTRIC for Trading & Distribution has signed a new contract to build electrical network to electrify a 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.

It is worth mentioning that ELSEWEDY ELECTRIC for Trading & Distribution is a pioneer company 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.

This press release, are available at:

http://ir.elsewedyelectric.com/en/news

Contact for Investor Relations contact information:

Mr. Tarek Yehia, Senior Investor Relations Manager
email: tarek.yehia@elsewedy.com
Address: Plot 27, 1st district, 5th settlement, New Cairo, EGYPT
Tel. +20 2 27599700 [60-lines]
Fax +20 2 27599746

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 31st 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

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