El Sewedy Electric Company (SWDY) signed a contract with El Mostakbal for Urban Development Company to supply electricity and communication infrastructure networks for the first phase of Mostakbal City.
Mostakbal City is located in the eastern extension of New Cairo and spans over an area of 11,000 acres, the equivalent of 45sqm. The city is a central hub connecting Cairo with new urban communities, especially the New Administrative Capital.
In statement sent to EGX, the company said that the contract’s value amounted to EGP 620m. Furthermore, the contract was signed on 30 August and the project’s duration is 18 months.
SWDY is an Egypt-based joint stock company engaged in the manufacture of integrated cables and electric products. The company’s capital is EGP 2.234bn.
SWDY signed recently with the Egyptian government agreements for the implementation of mega projects, including the tender for the project of the Egyptian Electricity Transmission Company (EEHC) regarding the implementation of part of the electricity line of East Owainat with a length of 200km.
It also signed contracts with the EEHC on the design and supply construction of two antenna lines with capacity of 500kV for the project linking Upper Egypt with a total length of 356km on two phases. The first phase costs EGP 2.24bn and the second phase cost reached EGP 69.77m.
El Mostakbal for Urban Development is an Egyptian shareholding company established and founded in 2006. The company is currently developing its flagship development “Mostakbal City” over an area of about 11,000 acres, which is about 45m sqm.
El Mostakbal is the master developer of Mostakbal City, where it will be responsible for preparing the master plan and urban planning and design guidelines for the whole project, securing the governmental approvals, and implementing the main road network, along with the main infrastructure networks.