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FINANCIAL NEWS
Saudi EIC inks USD37m Kuwaiti deal
22 Dec 2011
(MENAFN) Saudi Electrical Industries’ Co. (EIC) managing director, Ahmed bin Nasser Al-Suwaidan, said that the company inked a USD37 million deal to supply the Kuwaiti Ministry of Electricity and Water with oil-type distribution transformers, reported Arab News.
Al-Suwaidan added that the transformers would be made and supplied by the company’s subsidiary of the Saudi Transformers Company and would be rated at 1250 kilovolts-ampere (kVA).
He also said that the contract was one of many the company inked recently with the region’s utilities, adding that EIC’s manufacturing and quality standards were comparable with any leading global brand, moreover, the firm was able to deliver the best quality at the right price.
It is worth noting that Saudi Transformers Company, which was established in 1978, is one of the largest manufacturers of distribution transformers, package substations and unit substations in the Gulf area.
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