El Sewedy Electric (SWDY) subsidiary Egytech Cables signed an 8.49 million Kuwaiti Dinar (EGP 440 million) contract with Kuwait’s Public Authority for Housing Welfare to help transmit power to El Mutlaa Residential City.
More Details🧐 The 18-month contract will see Egytech Cables design, supply, & install all works related to the main substations for El Mutlaa Residential city on a turnkey basis.
What’s a Turnkey Contract🤨 A turnkey contract is usually a construction contract where a contractor is employed to plan, design & build a project & do any other necessary development to make it ‘ready to use’ at an agreed price & a fixed date.
Why is this Important🤔 SWDY subsidiaries have been busy the past few months making agreements. Deals made by SWDY subsidiaries include a $16.7 million contract for a substation in Ghana in September 2021, a couple of contracts worth EGP 1.6 billion last month, & a $25 million agreement just last week.
