Riyadh – Mubasher: The Saudi Electricity Company (SEC) on Wednesday announced operating the main transformation plant in the North of Ar Rass governorate at a value of SAR 154.2 million.

This facility will contribute to supporting and stabilising the governorate's electricity network, according to a statement by SEC.

This station also is expected to support some governmental projects in Ar Rass.

On Tuesday, SEC's 100%-subsidiary, Dawiyat Integrated Telecommunications and Information Technology signed a memorandum of understating (MoU) with Nokia to develop the fifth generation (5G) network in the kingdom.

SEC last reported a 32% year-on-year decline in net losses during the fourth quarter of 2018, reaching SAR 3.77 billion, against SAR 5.52 billion.

SEC’s stock levelled up 0.12% to close Wednesday's trading session at SAR 16.62.