Saudi Electricity Co. (SEC) will sign four memorandums of understanding (MoUs) on Tuesday, the company said in a statement to the Saudi bourse.

The first memorandum will be signed with General Electric to study the possibility of forming a partnership to maintain and operate power plants. The duration of this memorandum is three years from the signing date.

The second accord will be concluded with Korea National Electricity Co. to discuss mutual cooperation in research, development, personnel training and generation of nuclear and renewable energy. The duration of this accord is three years from the date of signing.

The third MoU, which has a duration of two years, will be signed with Doosan Heavy Industries and Construction Co. to discuss mutual cooperation in personnel training and the development of power plants and the generation of renewable energy.

The fourth memorandum will be signed with the Export-Import Bank of Korea to study a three-year framework agreement allowing SEC to obtain financing at a maximum of $3 billion. This loan will be guaranteed by the Korean bank.