Electrical Industries signs SAR 110 mln supply deal with SEC

15/11/2020 Argaam

Electrical Industries Co. announced that its two subsidiaries WESCOSA and Saudi Power Transformers Co. signed agreements with Saudi Electricity Co. (SEC) for supply of electrical devices, at a total value of SAR 110 million, according to a bourse statement.

 

The agreements, which are binding for Electrical Industries Co., will be valid till March 30, 2022, the company said.

 

The company expects a positive impact on its financial results for the fiscal year 2021.

 

There are no related parties to the agreement, it added.

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