Elsewedy Electric invited to participate in tender for Egypt-Sudan electricity grid project worth USD60-70mn
Electricity Holding Company’s Chairman, Gaber El Desouky, announced that Egypt and Sudan will sign contracts to connect their electricity grid in two weeks. The project is scheduled to be on the fast track, where development work is expected to begin within three months of a tender. Elsewedy Electric was amongst eight other local and global players to be invited to participate in the prospective tender. Other players included: i) ABB; ii) General Electric; iii) Schneider; iv) Siemens; and v) State Grid Corporation of China.
Elsewedy Electric: EGP218.59 as of 20 May 2018, Rating: Buy, TP: EGP190.00/share, MCap: USD2,672mn, SWDY EY/SWDY.CA
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