XD Egemac lands EGP 700 mn contract for Hawamdia transformer station

XD Egemac landed a EGP 700 mn contract for the Hawamdia transformer station, which is expected to process around 500 kVA of electricity, Chairman Medhat Ramadan said yesterday. The company expects to ink the final agreements for the project in a few weeks’ time. The Arab Fund for Economic and Social Development is partially funding the project with a facility repayable over 15 years at 3.5% interest. The station should be complete within a year.