Logo of Electrical Industries Co.
Electrical Industries Co.’ subsidiary, Saudi Transformers Co., signed today, June 21, a contract with the Ministry of Electricity, Water and Renewable Energy in Kuwait for the supply of distribution transformers through its agent in Kuwait, Faddan General Trading & Contracting Co.
The contract, which has a term of 18 months, is expected to have a positive impact on the financial results of the company for 2023 and 2024, according to a Tadawul statement.
No related parties are included in the deal.
In April, Electrical Industries received an award letter for a tender to supply distribution transformers for one its subsidiaries (Saudi Transformers Co.) from the Ministry of Electricity, Water and Renewable Energy in Kuwait, for a value of SAR 79 million, Argaam reported earlier.
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