Elsewedy Electric wins $43m EPC contract for Toshka 2, Benban 3
Contract inked with Egyptian Electricity Transmission Company for the expansion of Toshka 2 and Benban 3 substations
Egyptian Stock Exchange-listed (EGX) Elsewedy Electric, a wires and cables service provider has bagged an engineering, procurement, and construction (EPC) contract valued at $42.5m from Egyptian Electricity Transmission Company (EETC) for the expansion of Toshka 2 and Benban 3 substations in the North African nation.
In a stock market missive, the company said that the contract was signed between its subsidiary Elsewedy Electric for Distribution and Trading and EETC.
According to Elseedy Electric the EPC contract “will be implemented over 12 months commencing from the date of contract signing”.
The company added that earlier this month its distribution and trading arm inked $61.8m contract with EETC for installation of overhead transmission lines, with a length of 170km, for Benban – Toshka 500kV.
In August, Elsewedy Electric won two EPC contracts worth $18.6m for Canal Sugar Company. The first contract, valued at $15.4m, covered the construction of an internal 33kV network spread across 180km, and the second included the construction of a transmission line at a cost of $3.2m.