The deal included the construction of overhead transmission line (2X30 km) worth E£148 million on turnkey basis to connect Toshka 4 substation.
The contract is for the construction of the Alex West 220/66/11 KV transformer substation project, in an area affiliated to the Alexandria and West Delta electricity region.
The implementation period of the contract is 12 months.
EBRD clarified that this loan aims to support the development of a more resilient and robust electricity grid across Egypt.
ElSewedy Electric for Trading & Distributing, Elsewedy Electric, Agreement, Egyptian Electricity Transmission Company, EETC,
This is the first project to be carried out under the Auction system, she added.
The contracts were signed by Chairman of EETC Sabah Meshaly to establish four electricity transformers.
British Ambassador to Egypt Geoffrey Adams said on Thursday that Egypt is on its way to becoming an energy hub for the region.
There are already power links between Egypt and Jordan at capacity 450 megawatts and one with Libya at 200 megawatts.
Egypt’s electricity sector witnessed a surge in its investments year-on-year.
The agreement was signed between both parties in July 2016, involving developing the substations in New Cairo, Beni Suef, Dakahlia and Ismailia.
Bidders were given October as a deadline to re-submit their offers.
The authority’s investigations proved that the six distribution companies are having a “dominating position” in the market.