Saudi awards $346m power contracts
Riyadh, December 26, 2012
Saudi Electricity Company (SEC) plans to set up three transformer stations across the country at a cost of SR1.3 billion ($346 million) within two-and-a-half years to meet the growing power demand, said a report.
The Saudi state utility firm has already inked a SR406.2 million deal with a national company to establish a 380/110/13.8KV transformer in Jeddah to boost electricity supply in the city, reported the Arab News.
A second contract worth SR435.8 million was signed to establish a 380KV transformer in Madinah, while the third one valued at SR473.5 million was inked for a 380/132KV transformer in Asir, said the report citing CEO Ali bin Saleh Al-Barrak.
“We’ll invest huge amounts to meet power demand. All the three projects will be completed in 29 months,” he added.