Elsewedy Electric said its subsidiary Rowad Modern Engineering (RME) has signed an EGP 638.4 mn contract with Al Futtaim Commercial and Administrative Centers (AFCAC) for building and engineering works of office buildings at Podium 2 in east Cairo, Invest-Gate reports.

The project, which is the latest addition to Cairo Festival City (CFC), will be implemented over an 18-month period, starting from the signing date, according to a press release on December 10.

In November, Elsewedy Electric for Trading and Distribution, a subsidiary of Egypt’s Elsewedy Electric, inked an EGP 365 mn deal with the New Urban Communities Authority (NUCA) to carry out electromechanical works at the New Administrative Capital (NAC).

Under the public-private partnership (PPP) agreement, Elsewedy Electric will contribute to the state’s high-voltage cable development, linking three substations in the new capital.