Apr 26 2012
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SR452bn investment to spur power supply
He said SEC has set out a 10-year plan (2012-2021) during which it would implement new projects worth SR452 billion to meet the increasing electricity demand as a result of the Kingdom's rapid economic growth. He hoped the new plan would enable the company to have a 10 percent reserve at peak times. " Saudi Electricity will continue to develop its human, technical, financial and administrative capabilities."
Ever since its establishment in 2000, SEC has been distributing dividends among its shareholders, he said, adding that it gave SR547 million in dividends in 2011. The amount is equivalent to seven percent of the nominal share value.
He said the linkage of power networks in various parts of the country has almost been completed, adding that it would contribute to exchange of electricity and economic operation of SEC facilities.
© Arab News 2012
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