El Sewedy clinches $180mn smart meter deal
Egyptian firm's Slovenian offshoot to deploy 1.6 million units to four Dutch utilities.
An El Sewedy Electric subsidiary has clinched a EUR 160mn ($176.5mn) contract to supply smart meters.
Iskraemeco of Slovenia will deliver up to 1.6 million units to four Dutch utilities through 2020, the Egyptian company announced Tuesday.
Liander, Stedin, DELTA Netwerkbedrijf and Westland Infra manage 70% of the Dutch electricity market.
Under the deal, Iskraemeco will develop, test, produce and deliver smart electricity and smart gas meters beginning in 2016
The potential expansion of the smart meter quantities is expected during the course of the project, the statement added.
The original tender had been for a contract worth EUR 235mn to deploy up to 2.5 million units.