KEIR International bags SAR 50.58M contracts in Riyadh, Al Khobar

Logo of Keir International Co.

Keir International Co. signed two contracts with Saudi Electricity Co. (SEC) and National Grid SA to execute two projects in Riyadh and Al Khobar, at a total value of SAR 50.58 million, the company said in two separate statements to Tadawul today, Dec. 28.

Under the first contract signed with SEC, Keir International will execute the high-voltage inter-connection project in Al Khobar for SAR 26.28 million (including 15% VAT).

Under the 21-month contract, the company will execute the interconnection between two stations in west of Al Khobar, Eastern Province. This is by installing 115-kilovolt (KV) underground cables.

Meanwhile, KEIR International, under the second contract with National Grid, will implement a project for converting high-voltage cables of 132 KVs between the central station and a station in Riyadh, worth SAR 24.30 million (including 15% VAT).

The contract term is 20 months, said the company, adding that the existing 132 KV underground electrical cable will be re-routed from the substation to the central station via a new cable and associated communication work.

KEIR International expects the related financial impact of both contracts to be reflected in its financial results starting from Q1 2024 till Q4 2025.