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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.
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