Elsewedy Electric's unit inks EGP 443m contract for project in New Administrative Capital

Cairo – Mubasher: Elsewedy Electric for Trading and Distribution, a 99.8% subsidiary of Elsewedy Electric Company, has signed an EGP 443.4 million contract for a five-month project in the New Administrative Capital.

Under the contract, the company will implement the lighting of South Ben Zayed Road in the New Administrative Capital starting from Al-Fattah Al-Aleem Mosque until the Cathedral, according to a press release on Wednesday.

Meanwhile, the company will execute high-mast lighting for road no. 11 with its intersection with the City of Arts and Culture and with the extension of North Ben Zayed Road. 

It is noteworthy to mention that during the first nine months (9M) of 2021, the company logged consolidated net profits of EGP 2.51 billion, up by 30% year-on-year (YoY) from EGP 1.93 billion, including minority shareholders' rights. 

Mubasher Contribution Time: 12-Jan-2022 08:18 (GMT)
Mubasher Last Update Time: 12-Jan-2022 08:18 (GMT)