Egypt's Sewedy wins $440m Qatar cable deal

12 April 2011

The Qatari unit of Egypt’s El Sewedy Electric has been awarded a cable supply contract worth $440m, Reuters has reported. Doha Cables was the winning bidder in a tender to supply 42,000 tonnes of copper cables to the Qatari General Electricity and Water Corp for a two year period. The Arab world’s biggest listed cable maker said on Wednesday its fourth-quarter net profit rose 16% to EGP97.5m ($16m) on revenue of EGP3.69bn.

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