Cairo – Mubasher: Rowad Modern Engineering (RME), a 51%-owned subsidiary of Elsewedy Electric Company, signed two agreements with both Emaar Misr for Development and Newgiza for developments worth a combined value of EGP 1.59 billion, according to separate disclosures on Sunday.

RME penned a 26-month contract with Emaar Misr for the construction of Mivida office park, a project amounting to EGP 996 million.

The subsidiary also signed a 20-month deal with Newgiza to establish New Giza Hospital for a total value of EGP 602 million.

Earlier this month, Elsewedy Electric announced the inauguration of an industrial and electric project in Tanzania at more than $35 million worth of investments.