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FINANCIAL NEWS
Bahra signs a USD346 m contract to supply cables for SEC projects
24 Jul 2013
(MENAFN) Bahra Advanced Cable Manufacturer Co. Ltd. inked a USD346 million contract with Saudi Electricity Company (SEC), Saudi Gazette reported.
SEC is upgrading its network throughout the gulf kingdom and this deal is one of many other contracts signed by SEC for procuring medium and low voltage cables in the next twelve months for its USD1.6 billion project.
CEO of Bahra Cables, Talal Idriss, explained that the Saudi cable manufacturer produces its cables in accordance with international standards. He added that Bahra have accumulated many accreditation certificates, including KEMA, IPH, SASO, LPCB, CSA, and BASEC for power cables, and ISO 9001 for medium and high voltage cables.
He added that local cable manufacturers are able to cover 90 percent of the kingdom’s needs.
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BBK Successfully Closes USD Benchmark Bond Offering at $500 Million, in Collaboration with a Consortium of Regional and International Banks.
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