Cairo – Mubasher: Home appliance and cable producer El Sewedy Electric said that its subsidiary, El Sewedy Power System Projects Co., has been awarded a tender worth EGP 4.2 million ($32 million) to build a power transformers plant in Gulf of Suez, according to a bourse filing Thursday.

Earlier media reports said  that El Sewedy’s unit won the power plant project, under the turnkey system, in alliance with South Korea’s Hyosung.

El Sewedy added that it will carry out the delivery, transportation and installation of equipment, while Hyosung will be responsible for the design and supply of transformers.