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 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).
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.