Monday 25 January 2021

Saudi Electricity in $204m deals

Al Khobar, February 13, 2011

State-controlled Saudi Electricity Co (SEC) signed contracts worth 766.3 million riyals ($204.3 million) with local firms to boost power installations, the state news agency SPA said.

The five contracts cover various regions in the kingdom and aim to build and expand substations as well as installing a power grid, SPA reported, citing SEC's chief executive Ali Saleh Al-Barrak.   

SEC plans to invest $80 billion to boost capacity to at least 70,000 megawatts by 2020 from an installed capacity of 50,000 MW to meet domestic demand rising at 8 percent annually. - Reuters

Tags: power | SEC | Saudi Electricity |

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