Elsewedy Electric’s unit Elsewedy Electric for Trading and Distribution has announced an EGP 355.5 mn engineering, procurement, and construction (EPC) contract to establish a new substation in Sadat City, northwest of Cairo, Invest-Gate reports.

The turnkey-basis agreement includes building an air-insulated substation over a 14-month period, according to the EGX-listed company’s bourse filing on September 1.

Last June, Egypt-based Elsewedy Electric has been recognized among the top 100 companies in the Middle East by Forbes, due to its sector-based contribution to significantly boost local economic growth, while also being the leading wires, cable, and integrated energy solution provider in the Middle East and Africa since its inception in 1938.

Operating within the capital goods sector, with a special focus on electrical components and equipment, Elsewedy Electric runs more than 42 subsidiaries across the Middle East, North and East Africa, as well as, Southern Europe, cooperating seamlessly to provide customers with all energy-related products.