SNG: Saudi: EIC’s units pen $426mln joint agreements with SEC

About this update from Electrical Industries Co.

First published: 19-Sep-2025 09:46:47Staff WriterRiyadh - 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.All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (Syndigate.info).Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

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