ArabFinance: Sha7en, a subsidiary of M.B Engineering (MBEN), has signed a contract to manage and operate the charging stations owned by Revolta Egypt, according to a statement filed to the Egyptian Exchange (EGX).

Revolta Egypt has 30 charging stations across a number of governorates, including Cairo, Giza, Alexandria, Faiyoum, Qalyubia, Port Said, El Sharqia, and the Red Sea.

The operating capacity of Revolta’s network amounts to nearly 1,034 kilowatts per hour (kWh) for the alternating current (AC) charging and 200 (kWh) for the direct current (DC) charging.

The network is projected to generate annual revenue of around EGP 18 million when the operation rate reaches 80% as per the applied tariff in Egypt.

These stations will be linked with Sha7en’s network soon to be available for use through an App expected to be launched by the end of March.

Earlier this month, M.B Engineering announced it was seeking to obtain a license to operate electric vehicles’ (EV) charging stations through its subsidiary Sha7en.

In January, the company announced the trial opening of the biggest EVs’ charging station in Egypt through its subsidiary Sha7en, in collaboration with National Petroleum Co.

The station can accommodate up to 14 cars, and it has a charging capacity of 380 kilowatts per hour.

Established in 1990 and listed in 2014, M.B Engineering is a public company, which operates within the capital goods sector and focuses on construction and engineering.