Saturday 12 July 2014
 
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SEC

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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Saudi switch saves 550,000 bpd crude

Saudi Arabia will save 200 million barrels a year of liquid fuel by switching its power stations to more efficient combined cycle turbines, the head of Saudi Electricity Co (SEC) said on Tuesday in a speech reported by state media.

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Saudi Electricity raises $1.2bn from sukuk

Saudi Electricity Company said on Sunday it raised 4.5 billion riyals ($1.2 billion) from the sale of an Islamic bond. The sukuk was priced at 70 basis points over the 3-month Saudi interbank offered rate (Saibor), the Gulf's

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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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SEC to sell local currency sukuk

Saudi Electricity Company (SEC) said on Thursday it had chosen two banks to arrange roadshows ahead of a riyal-denominated Islamic bond issue. The kingdom's monopoly utility said it would offer the sukuk to investors between J

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Saudi seeks bids to build integrated gas/solar plant

Saudi Electricity Company (SEC) has invited companies to build, own and operate Saudi Arabia's first fossil-fuel fired power plant to use solar energy to cut carbon emissions, the state utility said on Monday. The 550-megawatt

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SEC signs $366m loan for Jeddah power plant

Saudi Electricity Co (SEC) has signed a $366 million loan agreement with the Japan Bank for International Cooperation (JBIC) and two Japanese banks to help finance the construction of a 2,650 megawatt (MW) power plant in Jeddah. T

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