Electrical Industries subsidiaries sign SAR 84 mln equipment supply deal with SEC

26/11/2020 Argaam

Electrical Industries Co. (EIC) said two of its subsidiaries signed electrical equipment supply agreements, worth SAR 84 million, with Saudi Electricity Co. (SEC) today, Nov. 26, the company said in a bourse filing.

 

The two subsidiaries -- WESCOSA and Saudi Transformers Co. (STC) -- will supply electrical equipment to SEC.

 

The agreements, valid up to March 31, 2022, are optional for SEC and binding on EIC.

 

The company expects a positive impact on its results for FY 2022.

 

There are no related parties.

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