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CAIRO – 18 February 2018: Elsewedy Electric Co. SAE (SWDY) announced that its subsidiary SDM Company for Development and Management, signed a contract to develop 1.4 million square meters in Sadat City for LE 266 million ($15.04 million).
In January, Elsewedy announced that SDM won the bid for developing 1.4 million square meters in Sadat City. SDM made an offer to the Industrial Development Authority (IDA) as part of a tender for the development of industrial areas in Sadat City.
SDM Company for Development and Management is specialized in developing industrial areas.
Elsewedy Electric Co. SAE (known as Elsewedy Electric) is a public company, listed on Egyptian Exchange (EGX) since May 2006. Elsewedy Electric operates within the Capital Goods sector focusing on Electrical Components and Equipment. It has 37 subsidiaries operating across Northern Africa, Eastern Africa, the Middle East and Southern Europe. Elsewedy Electric is based in Cairo, Egypt and was established in June 2005.
The total capital of Elsewedy is LE 2.18 billion divided over 218.4 million shares.