Elsewedy Electric plans to get into desalination

Elsewedy Electric plans to get into desalination: Elsewedy Electricity has plans to begin developing desalination plants in Egypt, CEO Ahmed Elsewedy reportedly said, according to local sources. The company has already lined up investments to get into the sector, and is looking to get in on one or two projects, he noted. The story did not note any further details on the specifics of the project. The company had said in its latest earnings release (pdf) that it is seeking to expand having secured turnkey backlog for the next two and half years. The firm’s backlog as of September 2018 was EGP 35.6 bn.