Saudi Electricity Company (SEC) signs today Dec. 19 the contracts of the Smart Metering project to install and commission 10 million smart meters for consumers across the Kingdom for a total cost of SAR 9.56 billion, the company said in a statement to Tadawul.
The project was awarded on Dec. 15 to a consortium of Etihad Etisalat Co. (Mobily) and Al- Fanar Construction for the central and eastern parts of the Kingdom, while a branch of China Electric Power Equipment and Technology (SGCC) was awarded the project for the western and southern areas.
Read more: Saudi Electricity awards SAR 9 bln smart meter project to local, Chinese firms
The project is expected to have a positive impact on the company’s financial results once completed in March 2023, SEC said.
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