ELSEWEDY ELECTRIC's subsidiary signs LE 440M contract in Kuwait

CAIRO – 2 January 2022: ELSEWEDY ELECTRIC S.A.E. (SWDY) announced Sunday that its subsidiary Egytech Cables signed a new contract with the Public Authority for Housing Welfare in Kuwait worth 8.49 million Kuwaiti Dinars ( LE 440 million).

The company clarified in a filing to the Egyptian Exchange (EGX) that the contract is for the supply, installation and maintenance of 132 KV ground cables for supplying the main substations 132/11 kv of (N3&N4) regions for EL Multaa Residential city.

“The project will help in the power transmission needed for El Mutlaa Residential City, one of the main projects currently executed by the Public Authority for Housing Welfare  for the development, renovation and creation of Kuwaiti national income alternative resources,” it added.

According to the company, the scope of work of Egytech Cables will mainly focus on the design, supply and installation of all works related to 132 KV ground cables. The project will be implemented during an 18-months period on turnkey basis.

Elsewedy Electric operates within the capital goods sector focusing on electrical components and equipment. It has 37 subsidiaries operating across Northern Africa, Eastern Africa, Middle East and Southern Europe.