Elsewedy Electric has signed two turnkey contracts worth a combined EGP 1.15 bn with the state-owned Egyptian Electricity Transmission Company (EETC) to establish three electricity substations in Central and North Sinai, according to a bourse disclosure (pdf) yesterday. The first contract, worth EGP 970 mn, will see the company set up two substations while the third will be established under a second, EGP 180 mn contract.

The substations will be up and running within 16 months, the disclosure read, adding that Elsewedy will design, supply and build the projects on a turnkey basis.

Elsewedy won the contracts in a bid round involving a number of local and international companies, Electricity Minister Mohamed Shaker said in a statement. He added that the projects come as part of government efforts to strengthen the electricity grid and improve infrastructure in the Sinai Peninsula.