Elsewedy Electric wins EPC contracts worth $54m in Egypt

Egyptian Stock Exchange-listed (EGX) Elsewedy Electric has secured three engineering, procurement, and construction (EPC) contracts, together worth $54mf from Egyptian Electricity Transmission Company (EETC).

The company’s fully owned subsidiary Elsewedy Electric for Trading & Distribution will work on the projects.

The first EPC contract, valued at $9.5m, covers the construction of overhead transmission line 2*30km on turnkey basis to connect the Toshka 4 substation. The contract will be implemented over a four-month period starting from the date of acceptance of the bid.

In a stock market filing, Elsewedy Electric said that the second contract covered the construction of Toshka substation on a turnkey basis, with the contract being valued at $26.2m. The company will implement the contract over a 10-month period.

Meanwhile, the third contract was secured for the construction of West Portsaid substation. Valued at $18.m, the contract will be implemented over 12 months starting from the signing date.

In September, the company secured a $22.4m EPC contract to build a substation in Sadat city in Egypt. The contract was granted on turnkey basis, and will be implemented over a 14-month period.

Previously, the company had also won a $45m contract from the Sudan’s Ministry of Energy and Dams to build a 20MWp hybrid solar photovoltaic plant with battery storage system in the capital, Juba.

The plant will be constructed on 25ha of land near Nesitu County, which is 20km from the South African’s nation’s capital.

The solar project, which is financed by African Export-Import Bank, comprises a 20MWp solar PV park, a 35MWh battery storage system, and an in-house training centre for Jubek state and the entire Equatoria region.

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