Cairo – Mubasher: SDM for Development and Management, the subsidiary of Elsewedy Electric Company, has won the bid for developing 1.4 million square metres in Sadat City.

SDM, which is currently under construction, made an offer to the Industrial Development Authority (IDA) as part of a tender for the development of industrial areas in Sadat City, according to a bourse filing on Tuesday. 

Elsewedy will reveal more details after signing the contract with the IDA at a later time, it added.

The total capital of Elsewedy is EGP 2.18 billion divided on 218.4 million shares.