PHOTO
A duty electrical engineer inspects an electric switchgear at the Krasnoyarsk hydro-electric power station near the Siberian city of Krasnoyarsk, Russia, January 13, 2016. The power plant, owned by EuroSibEnergo company, part of En+ Group, with a generating capacity of 6,000 megawatt (MW), has a ferro-concrete dam 124-metres high and 1065-metres long and is the second largest Russian hydroelectric power station. About 85% of the energy generated is intended for the Rusal Krasnoyarsk aluminium smelter, according to representatives of the power station. Picture taken January 13, 2016. REUTERS/Ilya Naymushin - D1BESHCLUBAA
Bawan Company said that construction on the new high-voltage transformer plant of its subsidiary, United Transformers Electric Company, is expected to start in the first half of 2025.
The first phase of the factory is likely to cost 80 million Saudi riyals ($21.33 million), the company said in a statement to the Saudi stock exchange.
The project will be financed through Bawan’s own resources and bank facilities. The total cost and location of the plant was not disclosed.
The six-month trial production will start in the first quarter of 2027, with commercial production expected to begin in the fourth quarter of 2027.
However, the construction contract has not yet been awarded, the statement said.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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