Riyadh - Mubasher: WESCOSA and Saudi Transformers Company, subsidiaries of Electrical Industries Company (EIC), have signed a SAR 198.50 million agreement with Saudi Electricity Company (SEC) on 16 September.
The 19-month deal covers the supply of electrical distribution transformers to SEC under purchase orders, according to a bourse disclosure.
The agreements are expected to positively impact EIC's financial results from 2025 to 2027.
On the other hand, Saudi Power Transformers Company penned a SAR 1.41 billion contract with SEC on 17 September to deliver EHV and HV transformers and reactors.
The 84-month contract includes provisions allowing SEC to increase its value by up to 40%, which could raise the total to nearly SAR 2 billion.
Meanwhile, SEC is committed to executing at least 70% of the contract’s value. The deal is expected to positively impact EIC’s financial results from 2027 to 2033.
WESCOSA and Saudi Transformers recently sealed a SAR 785.50 million agreement with SEC.
