Logo of Electrical Industries Co. (EIC)
Electrical Industries Co.’s (EIC) subsidiary, Saudi Power Transformers Co. (SPTC), signed today, Sept. 17, a contract with Saudi Electricity Co. (SEC) to localize and supply extra-high voltage and high-voltage transformers and reactors. 
In a statement to Tadawul, EIC said the 84-month contract is valued at SAR 1.41 billion, excluding VAT.
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Under the contract terms, SEC reserves the right to raise the contract value by up to 40% of the base amount, while being mandated to implement no less than 70% of the contractual value.
If the top-up option is exercised, the contractual value could reach nearly SAR 2 billion.
EIC expects this transaction to have a positive financial impact on its results during 2027-2033.
The TASI-listed company also noted that SPTC is currently working on expanding its factory, a project announced on May 15, to support growth plans and meet expected demand under this deal and future ones. The expansion project is estimated at SAR 192 million.
Logo of Electrical Industries Co. (EIC)
Electrical Industries Co.’s (EIC) subsidiary, Saudi Power Transformers Co. (SPTC), signed today, Sept. 17, a contract with Saudi Electricity Co. (SEC) to localize and supply extra-high voltage and high-voltage transformers and reactors.
In a statement to Tadawul, EIC said the 84-month contract is valued at SAR 1.41 billion, excluding VAT.
For more news on listed companies
Under the contract terms, SEC reserves the right to raise the contract value by up to 40% of the base amount, while being mandated to implement no less than 70% of the contractual value.
If the top-up option is exercised, the contractual value could reach nearly SAR 2 billion.
EIC expects this transaction to have a positive financial impact on its results during 2027-2033.
The TASI-listed company also noted that SPTC is currently working on expanding its factory, a project announced on May 15, to support growth plans and meet expected demand under this deal and future ones. The expansion project is estimated at SAR 192 million.
