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Siemens wins $266m jobs from Saudi ElectricitySiemens, the global engineering and energy company, has been awarded two major contracts valued at approximately SR1 billion ($266 million) by Saudi Electricity Company (SEC). The first contract includes the supply of five SGT6-20 More… |
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Saudi Electricity Q4 net loss widensSaudi Electricity Company reported a sharply wider fourth-quarter net loss on Sunday, partly on costs related to workers who have been let go by the utility. The company said it had a net loss of 1.09 billion riyals ($290.7 millio More… |
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Saudi Electricity Q3 profit up 32pcSaudi Electricity Company posted a 32 percent rise in third-quarter net profit on Tuesday, beating analyst forecasts. The utility attributed the net income of 2.88 billion riyals ($768 million) More… |
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Saudi Electricity 2013 capex near $10bnSaudi Electricity Company (SEC) will have capital expenditure needs of nearly $10 billion next year, a senior executive said on Tuesday, and the state-controlled utility may tap debt markets to raise some of the funds. SEC, the Gu More… |
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SEC signs $1.3bn deal for Riyadh plantSaudi Electricity Company (SEC) signed a contract worth 4.7 billion riyals ($1.25 billion) on Wednesday to build a power plant outside the capital Riyadh, the company said. The plant with a capacity of 2,175 megawatts is to be built in 36 More… |
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Saudi Electricity signs $1.4bn loan dealSaudi Electricity Company has signed a $1.4 billion loan agreement with international banks to finance the constrution of a new power plant, it said in a statement posted on the Saudi bourse website. The loan, which will be repaid over 15 More… |
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SEC launches two-part $1.75bn Islamic bondSaudi Electricity Company launched a $1.75 billion two-part Islamic bond on Tuesday, with tighter pricing on both the five-and 10-year tranches. The $500 million five-year portion was launched at a spread of 140 basis points (bps) over mid More… |
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GE wins $200m Saudi turbine contractGlobal technology giant GE said it has won a $200 million contract from Saudi Electricity Company (SEC) for supply of steam turbines, power generation services and technology besides distributed control systems. The contract will also incl More… |
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Saudi Electricity sukuk gets stable outlookMoody's Investors Service has assigned an A1 rating with a stable outlook to the proposed issuance of trust certificates (sukuk) by Saudi Electricity Global Sukuk Company, a special purpose vehicle of Saudi Electricity Company (SEC). M More… |
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SEC picks banks for sukuk roadshowSaudi Electricity Co (SEC) has picked HSBC and Deutsche Bank to arrange investor meetings in Asia, the Middle East and Europe, after which the utility may issue its debut international Islamic bond. Roadshows begin on March 21, accor More… |
