• 2024/07/17

Elsewedy Electric subsidiary signs 1 billion QAR contract

Elsewedy Electric announced a significant win for its subsidiary, Elsewedy Cables-Qatar. They secured a contract exceeding one billion Qatari Riyals with Qatar General Electricity and Water Corporation (Kahramaa). This three-year project involves engineering, procurement, construction, supply, and installation of 132 kilovolt power cables for strategic projects in Qatar.

It's worth noting that Elsewedy Cables-Qatar is majority owned (73.4%) by Senyar Holding, Qatar. Notably, Elsewedy Electric holds a 50% stake in Senyar Holding.

Elsewedy Electric's reported their first-quarter 2024 net profit which reached 4.23 billion Egyptian pounds, a significant increase compared to 3.17 billion Egyptian pounds in the same period of 2023 after accounting for minority interests.

• Elsewedy Electric
• electricity
• Elsewedy Cables
• Qatar
• Kahramaa
• Senyar Holding