Riyadh - Mubasher: Bawan Holding said two of its subsidiaries have signed three agreements worth SAR 349 million with the Saudi Electricity Company.
Per the agreements, United Transformers Electric Co., which owned by 85.5% by Bawan, will supply Saudi Electricity Co. with electric transformers worth SAR 234 million.
Also, United Technology of Electric Substations & Switchgears Company (USSG), that owned by 85.5% by Bawan, will provide Saudi Electricity Co. with substations, circuit breakers and control panels in return for SAR 115 million.
Saudi Electricity Company pointed out that the agreements will be self-financed.
The agreements are effective as of the fourth quarter of 2016 until the end of 2017 and can be renewed for further periods.
