Elsewedy Electric could invest up to EGP 2 bn in new capital projects

Elsewedy Electric is mulling investing up to EGP 2 bn in new infrastructure and power generation projects in the new administrative capital as part of plans to contribute to strategic national projects, it said in a statement (pdf). The company had signed last year an EGP 1.23 bn contract to construct a 500 KV substation in the new capital on a turnkey basis.