Bawan’s Algeria project likely to start commercial ops in Q4 2019

26/06/2019 Argaam

 

Bawan Co.’s project in Algeria is expected to begin commercial operations in Q4 2019 instead of Q2 2019 amid economic slowdown in the North African country. 

 

In addition, samples of the company’s products will be tested by Algerian state-run Societe Nationale de l'Electricite et du Gaz (Sonelgaz) by the end of Q3 2019. 

 

No financial impact is likely to show despite project delays, , the company said in a bourse statement on Wednesday. 

 

Bawan’s 85.5 percent-owned subsidiary, United Transformers Electric Co. (Utec), was setting up a new joint venture in Algeria, Argaam reported. 

 

Utec owns 49 percent of the new company. 

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