Saudi Electricity Company reports on foreign investment in Saudi market

Saudi Electricity Company (SEC) recently released a report that details how the Saudi market has attracted international companies and experts in the field of energy and the electric industry to implement investments and construct plants in the kingdom.

"Our happiness for having these plants in our country is doubled when we witness the success of the local manufacturers and national companies and their ability to compete in this field such as Bahra Factory for Transformers and Fonoon Factory for Pneumatic Accessories, and other national plants specialized in spare parts and electric power equipment,” SEC CEO Ziyad bin Muhammad Al-Shiha said in a statement.

Al-Shiha said the company is working to maintain the objectives set forth in Kingdom Vision 2030, and the company supports the national economy and is looking to continue to localize the industry.

“Also, the five-year plan of the company needs for distribution materials and contracts and the technical specifications of the materials will be published in the company's website, in addition to granting the local factories a competitive advantage in prices up to 10 percent against the prices of foreign products,” Al-Shiha said in the release.