El Sewedy Electric's shares surged over 10% today, reaching EGP 69.90 (+11.02%), after the company announced that one of its subsidiaries in the engineering and construction sector will participate in a major power generation Station. The subsidiary will be involved in the development of a 1,200 MW combined cycle power station in Rabigh, Saudi Arabia, in collaboration with Siemens Energy. The project, valued at over USD 1 billion, will be executed for the Saudi Electricity Company.
The sharp rise in El Sewedy Electric's stock triggered a 10-minute trading suspension, with share prices nearing their all-time high of EGP 71.49, recorded on August 12, 2024.
Data as of 25/09/2024 Session 10:31 CLT
Source: Company Disclosure to EGX
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