Elsewedy consortium to establish 500 MW power plants with EUR500mn investments
El Sewedy Electric (SWDY.CA) and Marubini consortium has reached agreement to establish two wind power plants with a 500 MW capacity with investments up to EUR500mn,according to sources in Elsewedy speaking to Al Borsa. The consortium is currently negotiating two plots of land to establish the project. Elsewedy talks for six power plants with 600 MW capacity had been postponed because of failing to reach agreements on the price of energy to be paid to it on the energy produced.
Elsewedy Electric: EGP126.76 as of 27 Nov. 2017, Rating: Buy, TP: EGP125.00/share, MCap: USD1,568mn, SWDY EY/SWDY.CA
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