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Monday, 6 September 2021

Elsewedy Electric subsidiary signs EPC contract in Ghana

Elsewedy returns to Ghana: Elsewedy Electric for Transmission and Distribution of Energy signed a USD 16.7 mn EPC contract to build a substation for Ghana’s state-owned electricity company, it said in a bourse filing (pdf) last week. The company will be responsible for the design, supply and installation of the entire project, which it will deliver within a two-year period, it said.

Elsewedy Electric has been increasing its international footprint in recent months, earlier this year acquiring two power transformers companies in Pakistan and Indonesia. The company, as part of a joint venture with Arab Contractors, is also working to execute the Julius Nyerere Hydropower Project in Tanzania. Earlier this year, the Elsewedy’s Transmission and Distribution of Energy subsidiary also signed a USD 53.2 mn contract with the Kuwaiti Electricity and Water Ministry to supply and install overhead transmission lines.


State-owned, EGX-listed Alexandria Container and Cargo Handling Company signed a two-year contract with the French shipping company, CMA CGM, under which the company will anchor its ships on the holding company’s berths, according to a statement (pdf).

The news comes as Egypt has been working on upping its port infrastructure in efforts to attract more business with shipping companies. Gharably Integrated Engineering Company (GIECO) is set to receive an EGP 12 bn loan to develop Alexandria’s Abu Qir port, while earlier this summer the UAE’s National Marine Dredging Company was awarded a AED 290 mn contract for dredging work at Damietta Port to deepen the port’s basins and sea lanes.

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