Cairo – Mubasher: Elsewedy Electric’s subsidiary, SDM for Development and Management, plans to invest EGP 700 million for conducting facilities to 1.4 million square metres in Sadat city.
Construction work is set to be completed within two years, company CEO Mohammed Kammah told Alborsa News.
The plot of land is expected to see the construction of around 50 plants, he forecast.
SDM for Development and Management had obtained the land plot in a tender by the Industrial Development Authority last year.
In February, SDM signed a contract to develop land plots in Sadat city with EGP 266 million in investments.