KEIR, National Grid sign 2 contracts worth SAR 166 mln

Logo of KEIR International Co.

KEIR International Co. signed, on July 13, two contracts for the extension of high-voltage underground cables with National Grid SA, at a value of SAR 165.96 million, including VAT. 

According to two separate statements on Tadawul, the first contract, worth SAR 78.75 million, aims to implement a project to extend high-voltage ground cables to connect the West Taiba station within the program to enhance major cities in Madinah. 

Meanwhile, the second contract, with a value of SAR 87.21 million, aims to implement a project to extend high-voltage ground cables of 110 kV to connect Al Haram station within the program to strengthen the major cities in Madinah. 

The 21-month contracts were effective from their signing date. The relevant financial impact is expected to appear during H2 2023 and 2024. 

There are no related parties, KEIR noted. 

National Grid SA is a subsidiary wholly owned by Saudi Electricity Co. (SEC), established in Jan 2012 and responsible to plan, design, develop, operate, and maintain the transmission network.