El Sewedy Electric’s subsidiary signs LE445M contract to set up transformer station

CAIRO – 30 April 2019: Egypt's El Sewedy Electric Company announced that its subsidiary El Sewedy Electric for Trading and Distribution signed a contract worth LE 445 million to set up a transformer station and a transmission line for Al-Canal Sugar Company.

The company said in a statement to the Egyptian Exchange (EGX) Tuesday that the project will be delivered 10 months after the signing of the contract and receipt of the advance payment.

ElSewedy Electric Company for Trading and Distribution is 99.8 percent owned by El Sewedy Electric Company.

ELSEWEDY ELECTRIC for Trade & Distribution, signed in March a new engineering, procurement and construction contract for the New Administrative Capital's 500 kilovolt substation worth LE 1.24 billion.

El Sewedy posted profits of LE 5.11 billion during the period from January to December of 2018, compared to profits of LE 6.48 billion in 2017.