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FINANCIAL NEWS
Siemens secures USD266m Saudi contracts
22 May 2013
(MENAFN) Siemens Saudi Arabia’s CEO, Arja Talakar, announced that the power firm has been granted two contracts from Saudi Electricity Company (SEC), worth a combined USD266 million, reported Arabian Business.
Talakar said that under the terms of the first contract, the company will supply 5 gas turbines that will provide power to the Rafha, Qurayyat and Arar areas.
He added that the turbines will add 388 megawatts (MW) to the Kingdom’s electricity grid.
As for the second contract, Siemens will supply all key components for a turnkey project to set up the Al-Kharj 2 380 kV substation that will boost the reliability and security of power supply.
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