El Sewedy signs EGP 570 mn contract for works on Assiut power plant

A subsidiary of El Sewedy Electric signed an EGP 570 mn agreement with Upper Egypt Electricity Production Company for works on the 650 MW Assiut Power Plant, according to a bourse disclosure. The contract includes mechanical work on the plant and will be completed over 29 months. The agreement is one of three electrical and mechanical works contracts the EEHC signed for projects in Assiut and west Cairo, according to Daily News Egypt. The contracts include a EGP 98 mn agreement with Hilal Construction Company to design, manufacture, and supply tanks, in addition to a EGP 454.2 mn agreement with a Posco Daewoo Corp-Hyundai Electric consortium for a keys yard.