Monday, Nov 28, 2011
(This story was originally published Sunday.)
RIYADH (Zawya Dow Jones)- Saudi Electricity Co. (5110.SA, the largest-listed utility in the Gulf, said Sunday it signed three deals worth 546 million Saudi riyals ($145.6 million) with unspecified firms to build power transmission lines and a transformer station in Riyadh and the Eastern Province.
The first contract, worth SAR234.4 million, is to build double circuit overhead lines between Darmaa and Riyadh, while the second contract, valued at SAR193.2 million, is to build a transformer station in Jubail's second industrial city to supply electricity to the Sadara chemical joint venture by Saudi Aramco and Dow Chemical Co. (DOW), SEC said in a statement.
The third contract, worth SAR118.6 million, is to build double circuit overhead lines in Safaniyah area, it said.
The three projects will take 29 months to be completed, SEC, whose biggest shareholder is the Saudi government, added.
Saudi Arabia, which is struggling to supply uninterrupted electricity during a population boom and industrial expansion, expects SEC to invest $80 billion over the next 10 years to add 20,000 megawatts of power generation capacity.
-By Summer Said, Dow Jones Newswires; +966-546-842373; summer.said@dowjones.com
(END) Dow Jones Newswires
28-11-11 0337GMT
