Riyadh-Mubasher: Bawan Holding said its 85.5%-owned subsidiary United Transformers Electric Co. (Utec) signed on Thursday a SAR 225 million agreement with Saudi Electricity Co. (SEC).

Under the one-year accord, Utec will supply SEC with transformers.

The supply will start from the first quarter of 2016 until the end of 2016 unless the agreement is renewed.

The relevant financial impact is likely to reflect on Q1-16 financials.