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FINANCIAL NEWS
Siemens, Saudi’s SEC sign deals
02 Sep 2014
(MENAFN) Siemens and Saudi Electricity Company (SEC) have signed two contracts for the construction of Static Var Compensators (SVCs) servicing the Madinah East, Hail and Al Jouf substations, Arab News reported.
These contracts will allow Siemens to provide SEC with SVC plus, as well as protection systems, transformers, switchgears, civil and electro-mechanical work, for the project which is supposed to last for 24 months.
SVC plus, Siemens top quality technology, will be used in Saudi Arabia for the first time to improve the performance of the SEC transmission networks of Central and Western regions of Saudi Arabia.
“The construction of Static Var Compensator (SVC) will play a vital role in the stability of the network and smooth transmission of power in Madinah, Hail and Al-Jouf regions particularly in the time of high demand during summer, Haj and Ramadan,” CEO of Siemens Saudi Arabia said
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