Elsewedy Electric unit to export €44M electric meters to Togo

CAIRO – 12 September 2017: Elsewedy Electric announced Tuesday that its subsidiary Elsewedy Power has signed a €44 million contract with Compagnie Energie Electrique du Togo to export 300,000 electric pre-paid meters to Togo Republic.

The agreement will be implemented in a nine-month period, starting from the fourth quarter of 2017, the statement to the Egyptian Exchange (EGX) said.

Earlier this month, Elsewedy Electric’s subsidiary (Elsewedy for Trade and Distribution) signed a LE 620 million contract with

El Mostakbal for Urban Development

.

Under the agreement, the company will build electricity and communication infrastructure for Mostakbal City, which will be developed near the New Administrative Capital project.

The mother company’s

revenues

hiked 97 percent to LE 20.65 billion ($1.16 billion) in the first six months of this year. Net profit increased 84.6 percent to LE 3 billion from LE 1.6 billion in the same period last year.

Elsewedy Electric is the leading wires and cables and integrated energy solution provider in the Middle East and Africa.