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FINANCIAL NEWS
Saudi Electricity Company selects ABB for $39m order
21 Dec 2010
(MENAFN) Peter Leupp, head of ABB�s Power Systems Dvision, said that Saudi Electricity Company (SEC) selected ABB for the order of $39m for enhancements on power transmission and distribution in the Kingdom�s Eastern Province, Arabian Business reported.
Leupp said that this deal will utilize electricity usage in the Kingdom and would decrease electricity losses. ABB will finish this fast-track project by June 2011.
Leupp also said that this agreement makes ABB responsible for designing, engineering, supplying, installing and commissioning equipment. Capacitor banks will be needed for the infrastructure and will enhance efficiency and reliability of the Saudi power network.
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BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
19 Feb 2025
Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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