I'm LongbridgeAI, I can summarize articles.WESCOSA and Saudi Transformers Company, subsidiaries of Electrical Industries Company (EIC), signed a SAR 198.50 million agreement with Saudi Electricity Company (SEC) for electrical distribution transformers. Additionally, Saudi Power Transformers Company secured a SAR 1.41 billion contract with SEC for EHV and HV transformers, potentially increasing to nearly SAR 2 billion. These agreements are expected to positively impact EIC's financial results from 2025 to 2033.
Staff Writer
Riyadh - WESCOSA and Saudi Transformers Company, subsidiaries of Electrical Industries Company (EIC), have signed a SAR 198.50 million agreement with Saudi Electricity Company (SEC) on 16 September.
The 19-month deal covers the supply of electrical distribution transformers to SEC under purchase orders, according to a bourse disclosure.
The agreements are expected to positively impact EIC's financial results from 2025 to 2027.
On the other hand, Saudi Power Transformers Company penned a SAR 1.41 billion contract with SEC on 17 September to deliver EHV and HV transformers and reactors.
The 84-month contract includes provisions allowing SEC to increase its value by up to 40%, which could raise the total to nearly SAR 2 billion.
Meanwhile, SEC is committed to executing at least 70% of the contract’s value. The deal is expected to positively impact EIC’s financial results from 2027 to 2033.
WESCOSA and Saudi Transformers recently sealed a SAR 785.50 million agreement with SEC.
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