Cairo – Mubasher: Misr For Mechanical & Electrical Projects (Kahromika) has closed an agreement with India’s energy conglomerate NTPC for the cooperation in energy, power plants’ maintenance, and renewable energy.

Under the agreement, the Indian state-run conglomerate will provide maintenance services for power plants and upgrade old plants, Kahromika’s chairman Sherif El-Sheikh stated on Saturday.

Kahromika is a subsidiary of Arabia Investments, Development and Financial Investment Holding Company (AIND).

Arabia Investments’ consolidated profit amounted to EGP 72.77 million last year, against losses of EGP 180.38 million in 2017, including minority shareholders’ rights, according to a filing to the Egyptian Exchange (EGX).