Prime Minister Moustafa Madbouly authorized the Suez Canal Economic Zone (SCZone) to participate in establishing a joint stock company named Economic Zone Utilities Company to manage the construction, operation and maintenance of various utilities projects for developers and investors at the SCZone, according to Egypt Today. Elsewedy Electric signed a partnership agreement with the SCZone to set up the Economic Zone Utilities Company back in May. Elsewedy owns a 49% stake in the venture, which will have EGP 1 bn in capital.

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