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FINANCIAL NEWS
Saudi SEC awards Siemens USD175 m project
29 Dec 2013
(MENAFN) Saudi Electricity Company (SEC) has awarded Siemens, a global powerhouse in electronics and electrical engineering operating in the energy, infrastructure, industry and health care sectors, a project to construct 380 kV Hail 3 substation, according to Arab News.
The deal was signed between SEC President and CEO Ali Al-Barrak and Head of Energy Transmission Siemens Saudi Arabia Peter Bruder, and was estimated at USD175.9 million.
Arja Talakar, CEO of Siemens Saudi Arabia, said: “The contract is a testimony to Siemens commitment and contribution toward the reliable and efficient energy supply for the Kingdom. The Hail region is undergoing a rapid population, agricultural and industrial growth. This substation will ensure a continuous power supply without compromising the reliability, efficiency, and environmental compatibility of the comprehensive energy system.”
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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