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Elsewedy-Toyota consortium inks EGP 1.46bn deal with North Cairo Electricity Distribution

Elsewedy-Toyota consortium inks EGP 1.46bn deal with North Cairo Electricity Distribution
The project will be implemented over 910 days on a turnkey basis.
Elsewedy Electric
SWDY
-4.43% 31.05 -1.44

Cairo – Mubasher: A consortium of Elsewedy Electric Co and Toyota Tsusho signed an agreement worth EGP 1.46 billion with the North Cairo Electricity Distribution Company.

The engineering, procurement, and construction (EPC) contract includes upgrading the electricity distribution network, providing smart solution to digitise the network, and installing 500,000 smart meters, DMS, AMI, RTU, and smart ring link panels, according to a bourse disclosure on Monday.

The project will be implemented over 910 days on a turnkey basis.

During the first nine months of 2020, Elsewedy Electric Co reported net profits of EGP 1.93 billion, compared to EGP 2.78 billion in the year-ago period, including minority shareholders’ rights.