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FINANCIAL NEWS
Swiss ABB wins USD30 m order from Saudi Electricity Company
06 Mar 2014
(MENAFN) Saudi Electricity Company (SEC), the country’s leading power utility, has awarded ABB, a major power and automation technology group, a USD30 million order for the renewing of lexible alternating current transmission systems (FACTS), according to Arab News.
The project will be implemented in the Eastern Operating Area.
ABB will be responsible for renewing two 380 kilovolt static var compensators (SVCs) located at the existing Shedgum and Faras Substation.
Oleg Aleinikov, head of ABB’s substations business, part of the company’s power systems division, said: “This refurbishment project will help improve voltage stability, reduce outages and mitigate the risk of blackouts.”
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
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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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