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Tuesday, 24 July 2018

Elsewedy, Arab Contractors bidding to build USD 3 bn hydroelectric dam in Tanzania

Elsewedy Electric and Arab Contractors are among five companies that were shortlisted in the tender for a USD 3 bn hydroelectric dam over Tanzania’s Rufiji River, CEO Ahmed El Sewedy tells Al Mal, without naming the other suitors. The Tanzanian government is expected to secure funding for the 2.1 GW project, which received prequalification offers from 17 companies, according to El Sewedy, who adds that he expects the winning bid to be announced in 3-4 months’ time. Elsewedy has around 25 projects in Africa and is studying expanding into other markets, including Kenya. Arab Contractors is also competing for infrastructure projects worth USD 400-450 mn across the continent.

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