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FINANCIAL NEWS
GE, SEC sign USD700 m deal
27 Nov 2013
(MENAFN) General Electric Co. and Saudi Electricity Co. have signed a USD700 million deal to supply the latter with natural gas turbines, according to Arab News.
The slow global-electricity consumption has affected the demand on GE’s generators in the last two years.
Nowadays, Saudi Arabia has more than 500 of GE’s generators to supply half of its power.
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