ArabFinance: Electro Cable Egypt (ELEC) signed an EGP 800-million contract with Cairo Leasing Corporation to finance the new plant of Electro Cable, according to a recent statement filed on April 1st.

The listed company conceded its industrial land which amounts to EGP 37.236 million, located in Sadat City to Cairo Leasing. 

The company posted a net profit of EGP 133.5 million in 2020, lower 19.9% when compared to EGP 166.77 million in 2019, including minority shareholders’ rights.

Electro Cable is an Egypt-based public shareholding company that operates in the electric components manufacturing sector. The company manufactures and distributes power and telecommunication cables and wires in Egypt and abroad. Its product portfolio includes low, medium, and high-tension power cables, isolated cables, and telephone communication cables.