EPS records EGP 49.5m business volume, EGP 12.6m profits in 6 months

Daily News Egypt
3 Min Read

The Electric Power Systems Engineering Company’s (EPS) general assembly approved the company’s final accounts and budget for the past six months. The general assembly was chaired by Gaber El-Desouky, Head of the Egyptian Electricity Holding Company.

As the company’s results showed its goals and plans were achieved with complete success, the trust in the EPS board of directors, headed by Hosny El-Khouly, was also reinforced.

El-Khouly reviewed the results of the work that was achieved during the transitional period between July and December 2019. The company continued its record numbers in volume of implemented projects, investments, profits and revenues as one of the main arms specialised in the electricity sector consulting field.

He said that the volume of business amounted to EGP 49.5m, with net profits of EGP 12.6m, in addition to the works that were carried out in the last fiscal year.

El-Khouly added that the projects the company is currently participating in include the Wataniya transformer station of 220/66/22 kV and a DAMAC station. This is in addition to the Barwa 1 and 2 stations, the new Heliopolis and Badr City stations, and Motamayez Station in Sadat City.

The company is also implementing a number of projects for the New Urban Communities Authority (NUCA), including industrial zone transformer stations, housing associations, Badr 3, and Obour 5, amongst others.

He added that Egypt has vast experience in the electrical project design field which are being exploited locally and globally. It is projected that these projects will provide foreign exchange and increase service exports to support the national economy.

A schedule is also being implemented for the renewal, rehabilitation, and upgrading of electricity networks to 75 villages in Upper Egypt under the initiative of President Abdel Fattah Al-Sisi.

El-Khouly added that a number of national level transformer stations and new lines are being developed as part of the state’s programme to increase efficiency on the unified grid.

This includes the giant Mansheyat Nasser transformer station which is set to improve the East Cairo network’s performance and serve the city’s metro lines. This comes alongside with Ain Sokhna transformers, New Cairo stations, and stations serving Heliopolis, Badr City, Wataniya, 6th of October, Safaga, Qusair, and Hurghada. Further work is being conducted on the 103-km-long line between Safaga and Qussair and internal lines in Greater Cairo, alongside the amendment of the Al Alamein lines.

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