Riyadh - Mubasher: Saudi Electricity Company (SEC) plans to implement a number of electric projects as part of its the annual plans, which will enable it to preserve the service’s credibility and network support, reported Saudi Press Agency (SPA), citing Sulaiman Bin Ibrahim Al Hubaishi, SEC’s senior vice president of supply chain.
The total value of the approved projects yearly is SAR 60 billion, 76% of which are being implemented by local contractors, he said.
Al Hubaishi added that the number of registered national factories under the company grew fivefold compared to 15 years ago as a result of its direct support for national manufacturers, according to the newspaper
The company’s strategy includes three main initiatives that focus on increasing local content level in the company’s works, projects and purchases through making policies and mechanisms to motivate the contractors and manufacturers.
As a direct effect for this strategy, SEC offered 85 industrial investment opportunities, for which the expected demand is estimated at SAR 52 billion in the next five years.
By the first quarter of 2015, the company started implementing the strategy of nationalising the manufacturing of spare parts and equipment in the electricity sector, the top executive added.
