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17/03/2025 03:51 AST
Saudi-based Electrical Industries Company has announced that one of its key subsidiaries - Saudi Power Transformers Company - has been awarded a contract by Tecnicas Reunidas Saudia for Services and Contracting Company to supply transformers for a major project.
Headquartered in Al Khobar, Tecnicas Reunidas Saudia is a key unit of leading Spanish EPC contractor catering to the oil and gas, refining and petrochemical, power generation and infrastructure sectors.
Under the SAR129.3 million ($34.3 million) deal, Saudi Power Transformers Company will be responsible for the design, manufacture and supply of transformers, said Electrical Industries Company in its filing to Saudi bourse Tadawul.
The entire contract will be completed in 18 months, it stated.
The contract is expected to have a positive financial impact on the company results for the year 2026, it added.
Trade Arabia
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| RIYADHCABLES | 126.50 | 0.60 (0.47 |
| ASTRAINDUSTRIAL | 133.80 | -0.90 (-0.67 |
| ALBABTAIN | 68.50 | -0.20 (-0.30 |
| BAWAN | 49.66 | -0.59 (-1.18 |
| SAUDICERAMICS | 28.64 | 0.40 (1.41 |
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Arab News
Financial Information Co.
Saudi Arabia