Electrical Industries inks deals worth SAR 210 mln with SEC

20/09/2016 Argaam

Electrical Industries Co. (EIC) on Monday signed optional contracts— binding on the supplier only—with Saudi Electricity Co. (SEC) for a total value of SAR 210 million.

 

Under the deal, EIC will supply the utility firm with electrical equipment through its wholly-owned subsidiaries Saudi Transformers Co. (STC) and Wahah Electric Supply Company of Saudi Arabia (WESCOSA), the company added in a statement to the Saudi bourse Tadawul.

 

EIC added that it expects the related financial impact to reflect on its figures for fiscal year 2017.

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