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FINANCIAL NEWS
Saudi Electricity inks USD168b contracts to import cables
01 Jul 2013
(MENAFN) Saudi Electricity Company (SEC), the largest utility company in the Middle East, has inked USD1.68 billion worth of contracts to import cables required to increase its power distribution network, Arab News reported.
SEC plans to deliver electricity to more than 420,000 new subscribers every year, CEO Ali bin Saleh Al-Barrak revealed.
He added that the cables are imported to install 36/13.8KV and 400V lines of the company’s supply network within 12 months.
The company’s power output increased by 8.8 percent to 207,000 gigawatt/hour last year compared to 2011, he said adding that the maximum load on the network rose by 7.4 percent to 51,939MW during the year.
Domestic demand for electricity power is growing at the rate of 8 percent while the number of subscribers grew by 6.2 percent to reach 6.7 million in 2012, according to SEC.
Also, the company’s actual generating capacity rose by 2.8 percent to 43,083MW in 2012 while available capacity rose by 4.8 percent to 53,588MW. Total length of the distribution network reached 51,881 km while 69/13.8KV network reached 221,845 km.
SEC is set to invest USD80 billion over the next decade to meet surging demand. It is expected that the Kingdom will need to generate over 30,000MW extra capacity by the year 2020.
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