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FINANCIAL NEWS
SEC, ABB sign USD120m deal
24 Apr 2013
(MENAFN) The Head of ABB’s Power Products division, Bernhard Jucker, said that the power and automation group landed a deal from the Saudi Electricity Company (SEC) under which ABB would provide transformers that would boost SEC’s production capacity, reported Arab News.
Jucker announced that the deal’s value stood at USD120 million.
ABB will design, manufacture, supply and install the power transformers rated at 67- and 100-megavolt ampere (MVA), which will be located at substations in the western, eastern, southern and central regions of the country.
It is worth noting that Saudi Arabia is pushing annually for an increase in electricity production to meet its growing population demand.
More News
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CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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