Egypt based Elsewedy Electric Company said its industrial development unit has signed an $557 million contract with the General Authority for Suez Canal Economic Zone. The industrial development is located in land at Ain Sohkna, 120 km east of capital Cairo.

As per the deal, the Egyptian cable maker will construct an industrial city on sprawling 10 km land. The project will be implemented over the next 10 years.

Source: Zawya
Fulya Altunyay/