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Saudi Electricity in $204 mln power project deals

SEC plans to invest $80 billion to boost capacity to at least 70,000 megawatts by 2020.


February 14, 2011 9:21 by

State-controlled Saudi Electricity Co  (SEC) signed contracts worth 766.3 million riyals ($204.3 million) with local firms to boost power installations, the state news agency SPA said on Sunday.

The five contracts cover various regions in the power-hungry desert kingdom and aim to build and expand substations as well as installing a power grid, SPA reported, citing SEC’s chief executive Ali Saleh al-Barrak.

SEC plans to invest $80 billion to boost capacity to at least 70,000 megawatts by 2020 from an installed capacity of 50,000 MW to meet domestic demand rising at 8 percent annually.

(Reporting by Reem Shamseddine; editing by Firouz Sedarat)


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