Cairo – Mubasher: El Sewedy Electric for Trade and Distribution, a subsidiary of Elsewedy Electric Co has signed an EGP 2.12 billion contract to implement Borg El Arab - Mersa Matruh electrically link-up project.

The project will be executed within six months starting from the signing date on 11 March, the company said in a statement to the Egyptian Exchange (EGX) on Monday.

On 27 December 2017, Elsewedy Electric Co’s arm for trade and distribution won the Egyptian Electricity Transmission Co’s (EETC) bid to establish Borg El Arab - Mersa Matruh electrically interconnection project.

Given that Elsewedy Electric Co for trade and distribution has signed an EGP 477 million contract with the New Urban Communities Authority (NUCA) to build a substation in Badr City.

El Sewedy Electric, the Arab world's largest listed cable company, is in talks with the New and Renewable Energy Authority (NREA) over establishing a wind power plant in the Gulf of Suez.

In March, the Egyptian cable maker signed a memorandum of understanding (MoU) with Japan’s Marubeni to set up two 500-megawatt wind farms.

Elsewedy Electric owns a 99.80% stake in Elsewedy Electric Co for trade and distribution.