Elsewedy Electric - Company's Website
CAIRO – 16 November 2020: Elsewedy Electric’s subsidiary Elsewedy Electric for Trading & Distribution signed a new EPC contract worth $90 million with the Egyptian government for smart high way information traffic system.
The company clarified in a filing to the Egyptian Exchange (EGX) that the execution duration is 18 months for ITS for-highway roads in Egypt including Traffic Management System (TMS) and toll collection system (TCS) in addition to the main control rooms in the ACUD, phase one includes six highway roads with total 1079 km.
It added that the roads are: Shoubra Banha freeway (40 Km), Cairo- Ismailia – Portsaid (195 Km), Cairo Alexandria (220 Km), Cairo Suez Desert Road (134 Km), Cairo Ain Sokhna Road (110 Km), and Cairo Regional Road (380 Km).
On Nov. 11, Elsewedy Electric’s subsidiary Elsewedy Electric for Trading & Distribution signed three new EPC contracts worth E£846 million ($54 million) with the Egyptian Electricity Transmission Company (EETC).
The deal included the construction of overhead transmission line (2X30 km) worth E£148 million on turnkey basis to connect Toshka 4 substation. The EPC contract will be implemented over 4-month period starting from the date of acceptance of the bid, according to the company filing to the Egyptian Exchange (EGX).
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.
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.
Elsewedy Electric's consolidated results showed a 47 percent decline in its profits during the first six months of 2020, recording LE 1.02 billion, compared to LE 1.95 billion in the same period of 2019.
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