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FINANCIAL NEWS
Saudi Electricity awards USD170m contracts to ABB
18 Nov 2012
(MENAFN) The Saudi Electricity Company (SEC) has awarded USD170 million worth of contracts to Swiss power group ABB to execute substation projects in Saudi Arabia, Arabian Business reported.
The contracts include delivery of products such as high-and medium-voltage switchgear, transformers, auxiliary systems and cables.
Under the deal, ABB will design, supply, install and commission a substation in Makkah, to help meet the increased demand for electricity in and round the central pilgrimage area.
The company will also set up four other transmission and distribution GIS substations in the western and southern regions of the country.
The projects, slated for completion in 2014, are part of Saudi Arabia’s ambitious Ninth Development Plan (2010-2014) aimed at raising its installed power generation capacity by more than 20 gigawatts (GW) to reach around 72GW by 2014.
The ABB Group of companies operates in around 100 countries and employs about 145,000 people.
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