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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
13 Apr 2026
BBK launches the Youth Advisory Council (YAC) to empower youth and advance innovation
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
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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