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Saudi private sector eyed for $186bn power spend

JUBAIL, August 2, 2015

Saudi Arabia’s private sector is expected to contribute a large percentage of the SR700-billion ($186.5 billion) investment needed in the next 10 years by the kingdom’s electricity sector, said a top official.

The country has launched new plans to set up companies with staff to design and implement projects in the electricity sector throughout the kingdom, Saleh bin Hussain Al Awaji, deputy minister for water and electricity and chairman of the Saudi Electricity Company (SEC), was quoted as saying in an Arab News report.

SEC has launched a wholly owned engineering company, SEC for Projects Development, Al Awaji revealed.

The subsidiary company is fully staffed by Saudi specialised and qualified cadres, who will manage all operations in the future to meet the different needs of SEC, as well as the needs of the electricity sector in the kingdom.

Its main role involves the design and management of projects as well as the supervision of the implementation works, instead of relying on non-Saudi consultants, Al Awaji said.

"There is no local experience in the kingdom capable of designing and implementing high-tech electricity projects," he added.

Al Awaji said that the new company will only meet about 25 per cent of the SEC's needs.




Tags: Saudi Electricity Company | investment | SEC | Private sector |

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