Monday 14 July 2014
 
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Saudi Electricity

SEC wins $13.2bn interest-free govt loan

State-owned power utility Saudi Electricity Company (SEC) has agreed terms and signed an interest-free loan of 49.4 billion riyals ($13.17 billion) with the kingdom's Ministry of Finance, the company said in a statement on Thursday.

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SEC wins $13.2bn interest-free govt loan

State-owned power utility Saudi Electricity Company (SEC) has agreed terms and signed an interest-free loan of 49.4 billion riyals ($13.17 billion) with the kingdom's Ministry of Finance, the company said in a statement on Thursday.

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Saudi Electricity Q1 net loss widens 39pc

Saudi Electricity Co (SEC) reported a significant widening of its net loss for the first quarter on Sunday, as the utility saw costs increase and the value of some of its fixed assets decline. It lost 913 million riyals ($243.4 mi

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Saudi Electricity gets $13bn govt loan

State-owned power utility Saudi Electricity Co has been granted an interest-free loan of 49.4 billion riyals ($13.2 billion) from the government to help fund its power generation projects, the company said on Thursday. The company

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GE Power Conversion wins major SEC order

GE Power Conversion has won two orders worth $23 million to supply highly efficient and flexible components for Saudi Electricity Company (SEC), the region’s largest power generation utility. GE was awarded a contract to sup

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Saudi Electricity completes $1.2bn sukuk

Saudi Electricity Company (SEC) has completed a 4.5 billion riyal ($1.2 billion), 10-year floating-rate sukuk offer, pricing the deal at 70 basis points over the Saudi Interbank Offered Rate. The state-owned firm said late last ye

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Saudi Electricity Q4 loss narrows

Saudi Electricity Co (SEC) said on Thursday its net loss for the fourth quarter narrowed by 39 percent as it did not repeat costs aimed at improving productivity incurred in the same quarter last year. The firm lost 661 million ri

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GE wins $700m Saudi turbine supply deal

General Electric Company said it has signed a nearly $700 million deal with Saudi Electricity Company to supply natural gas turbine generators. The order comes as demand for GE's generators has begun to slowly recover after be

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Saudi Electricity sees slight drop in Q3 profit

Saudi Electricity Company posted a 1 per cent fall in third-quarter net profit, missing analysts' forecasts, as its power generation capacity increased. Profit fell to SR2.853 billion ($761 million) in the three months ended S

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SEC signs $3.2 billion contract with Hyundai

Saudi Electricity Company (SEC) signed a contract with South Korea's Hyundai Heavy Industries (HHI) to build a 12.2 billion Saudi riyals ($3.4 billion) power plant in Shuqaiq, it said on Sunday. HHI will install four steam gen

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