Saudi Electricity to pump SAR 400 bln in energy sector

Saudi Electricity Company (SEC) plants to pump SAR 400 billion worth of investments ​over the next four years to generate, transmit, and distribute electricity, said Khalid Al-Ghamdi, the company’s electrical industries resettlement director.

Al-Ghamdi was quoted in Alriyadh newspaper stating that SEC is currently working on awarding contracts to companies that apply Saudization regulations, and those that use locally manufactured materials.

SEC carried out annual projects worth SAR 35 billion, in which SAR 24 billion were granted to local contractors, he said. The projects were 76-percent locally implemented.

The company's purchase of locally manufactured materials amounted to 70 percent with a cost of SAR 8.5 billion, while total purchases amounted to SAR 12 billion.