Saudi Electricity Company (SEC) awarded a smart metering project to install and commission 10 million smart meters for consumers across the Kingdom for a total cost of SAR 9.5 billion, the company said in a statement to Tadawul.
The project was awarded to a consortium of Etihad Etisalat Co. (Mobily) and Al- Fanar Construction for the central and eastern parts of the Kingdom, while a branch of China Electric Power Equipment and Technology (SGCC) was awarded the project for the western and southern areas.
The project will start on Dec. 19 and is expected to be completed by March 30, 2023.
It will be funded through the company’s own resources and external funds, the statement noted, adding that 3.5 million smart meters will be purchased from local manufacturers.
SEC also said that the project is expected to have a positive impact on the company’s financial results as of beginning of 2021.
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