Elsewedy Electric, along with two other consortiums, have bid on the 6GW clean coal power plant project in El Hamrawein. The consortiums include: i) Hassan Allam with Shanghai Electric and Dong Fong, pricing the development at USD4.4bn; ii) GE pricing it at USD5.2bn; and iii) Elsewedy Electric with Orascom Construction and Misubishi Hitachi offering to build it for USD6.19bn. It is worth noting that both GE and Elsewedy Electric consortiums have cut their offers from USD5.8bn and USD7bn, respectively. According to Electricity Minister Mohamed Shaker, the offers are under study now, and the winner will likely be announced next week. (Al Alam Al Youm)
 
Elsewedy Electric: EGP218.59 as of 20 May 2018, Rating: Buy, TP: EGP190.00/share, MCap: USD2,672mn, SWDY EY/SWDY.CA
 
Orascom Construction Limited: EGP162.00 as of 20 May 2018, Rating: Neutral, TP: EGP162.00/share, MCap: USD1,059mn, ORAS EY/ORAS.CA