Arab Finance: Sha7en EV Solutions, a subsidiary of MB Engineering, has signed an EGP 119 million contract with the Egyptian Bus Rapid Transit (BRT) Company for charging systems serving the Ring Road project, as per a disclosure.
Under the agreement, Sha7en will procure, supply, install, and operate 92 electric charging systems.
The payment terms require a 25% advance against a bank letter of guarantee. The agreement takes effect upon receipt of that payment, with deliveries to be completed in batches ending in the fifth month after the payment date.
