Elsewedy Electric will partner up with Arab Contractors and a number of firms to compete for the construction of a hydroelectric dam in Tanzania, CEO Ahmed El Sewedy said.
Tanzania is looking to build the biggest hydroelectric dam in East Africa over the Rufiji River.
The dam will be built with up to $3 billion in investments, to be arranged by the Tanzanian government, Almal News reported, citing El Sewedy.
The Egyptian alliance’s offer has been added to the short-list currently subject for valuation, he added.
In March, the Tanzanian government’s spokesperson Hassan Abbas said that five firms out of 17 have been chosen to compete for the dam construction.
The dam is expected to generate approximately 2,100 megawatts of electricity and provide power to the emerging industries.
Elsewedy forecast Tanzania to announce the bid winner within three to four months.
Elsewedy Electric, the Arab world’s largest listed cable company, seeks robust expansion in Africa as it operates in around 25 countries and plans to boost footprint in Kenya and Tanzania, he stressed.
He noted that the company’s business in Africa makes up about 4% of its total business.