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FINANCIAL NEWS
Saudi Electricity to build a USD128m transformer
19 Feb 2012
(MENAFN) Saudi Electricity Company (SEC) inked USD127.9 million contract to set up a new transformer in the Western Province, Arab News reported.
The contract is part of SEC’s efforts to meet the accelerating domestic demand in the kingdom which is witnessing fast-growing real estate and industrial investments in addition to the growing number of foreign residents.
CEO Ali Al Barrak explained that the new transformer would be established south of Jeddah with a power of 380/110/13.8KV, and will be finished within 29 months.
He also said that the contract includes designing, engineering work, import of materials and equipment, installation, testing and operation.
Al Brrak added that SEC is on track to provide electricity connections to 350,000 new customers in various parts of the country.
SEC allocated a number of new electricity projects including power generating plants and transport and distribution lines within this year’s budget.
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