Riyadh – Mubasher: The Saudi Electricity Company (SEC) on Sunday announced the completion of establishing an electricity substation in Jeddah at SAR 180 million in investments.

The facility, named Al-Hindaweyyah, started operations last week, according to the Saudi state-run utility said in a statement.

The SEC further noted that the project is set to support the stability of the national electricity grid in main regions across Jeddah.

On 27 February, the Saudi electricity firm unveiled operating the main substation in the North of Ar Rass governorate at a value of SAR 154.2 million.

The SEC last reported a 32% year-on-year decline in net losses during the fourth quarter of 2018, reaching SAR 3.77 billion, compared to SAR 5.52 billion during Q4-17.

The SEC’s stock went down 0.24% to finish Sunday's trading session at SAR 16.48.