Arab Finance: Elsewedy Electric Transmission and Distribution company, a subsidiary of Elsewedy Electric (SWDY), has signed a $176.1 million contract with Al Ghazala Energy Company to build a 300-MW solar power plant in Saudi Arabia, according to a statement issued by the company yesterday.

Elsewedy’s arm will handle the design, supply, and installation of the entire project with a turnkey.

The project will be implemented within 16 months and a half, in addition to, 29 months of operation and maintenance.