Ali Saleh al-Barrak, CEO of Saudi Electricity Co has announced the signing of five contracts worth SR766.3m with local firms to boost power installations, Saudi Press Agency has reported. The deals cover various regions in the kingdom and aim to build and expand substations as well as installing a power grid, he said. SEC plans to invest $80bn to boost capacity to at least 70,000 megawatts by 2020 from an installed capacity of 50,000 MW to meet domestic demand rising at 8% annually.
For More…