Electrical Industries Co., Saudi Arabia announces that one of its subsidiaries (Saudi Power Transformers Co.- SPTC) has signed a contract with Saudi Electricity Co (SEC), for localization and delivery of Transformers and Reactors.
The value of the contract is SAR 1.4 billion.
As part of the contract, the company will supply, Extra High Voltage (EHV) and High Voltage (HV) Transformers and Reactors to SEC.
The total duration of the contract is 84 months.
According to the contact terms, the Saudi Electricity Co. has the right to increase the contract value by up to 40% of the original value. Also, the contract guarantees a commitment from SEC to execute at least 70% of the contractual value. If the option of increase is exercised, the total value of the contract may reach around SAR 2 billion, statement mentioned.
