DR CONGO – Egyptian based electricity company Elsewedy Electric has signed a contract with the Democratic Republic of Congo (DRC) for the construction of a 220-15/6.6 kV high-voltage distribution substation in the town of Kasumbalesa.
As per the contract, Elsewedy Electric will provide engineering, procurement and construction services for the Kasumbalesa substation on a turnkey basis.
According to a report by Africa Energy Portal construction of the electricity substation will enable the efficient management of the power flow between the Southern African Power Pool’s power grid and the power grid of the Democratic Republic of Congo (DRC).
The electricity substation will also improve electricity exchanges between the DRC and Zambia and promote the socio-economic development of Kasumbalesa and its surroundings.
The Democratic Republic of Congo is one of the least electrified countries on the African continent, with an access rate of 1% in rural areas and 19% in urban areas, according to the United States Agency for International Development (USAID).
Elsewedy’s work on the Kasumbalesa Substation will thus significantly contribute towards enhancing electricity distribution efficiency in DRC and the larger Southern Africa Power pool.
According to Africa Energy Portal the construction work on the Kasumbalesa substation will be financed by the government to the tune of about €33 million (around US$39 million).
No information has however, been given on the start date of the works, but according to the DRC authorities, the infrastructure should be delivered 18 months after the start of construction works.
Earlier, Elsewedy Electric Company’s released its half year financial results, revealing a 47 percent decline in profits.
Elsewedy’s during the first six months of 2020, dropped to LE 1.02 billion (about US$64.02 million), from to LE 1.95 billion (about US$122.39 million) achieved in the same period of 2019.
Elsewedy Electric operates within the capital goods sector focusing on electrical components and equipment.
The Egyptian electricity company has 37 subsidiaries operating across Northern Africa, Eastern Africa, Middle East and Southern Europe.
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