El Sewedy, Mostakbal Urban Developments sign EGP 423.3m infrastructure contract

Daily News Egypt
1 Min Read

El Sewedy Trading and Distribution Company, which is 99.8% owned by ElSewedy Electric, has signed a contract worth EGP 423.3m with Mostakbal Urban Development Company.

According to a company statement sent to the Egyptian Exchange (EGX) on Wednesday, the contract will see the construction of electricity and communications infrastructure for Al Mostakbal City in Package 8, Stage 3, with the turnkey system.

The company stated that the project is set to be delivered within 22 months from the date of signing the contract.

In September 2017, El Sewedy announced the signing of a EGP 620m contract providing the electricity and communications infrastructure for the first phase of Mostakbal City with the turnkey system.

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