Riyadh – Mubasher: Electrical Industries Co. (EIC) signed agreements with Saudi Electricity Company (SEC) at a value of SAR 210 million on Monday.
The contract is binding only on EIC, according to a bourse filing on Tuesday.
Under the deal, EIC will supply Saudi Transformers Co. and Wahah Electric Supply Company of Saudi Arabia (WESCOSA), fully owned by SEC with electrical equipment.
The financial impact of the deal is expected to appear on the first quarter of 2017, according to the statement.
