Saudi Electricity Co. (SEC) announces the awarding of smart metering project
Element List | Explanation |
---|---|
Introduction | SEC’s Board of directors approved the awarding of Smart Metering project. The project entails installing and commissioning 10 million smart meter for consumers across KSA. |
Date of Board Resolution in Regard to the Project | 2019-12-12 Corresponding to 1441-04-15 |
Project Start Date | 19th of Dec 2019 |
Project Cost | 9,555,099,334 SAR |
Project Method of Funding | The project will be funded through the company’s internal resources in addition to external financing. |
Expected Project End Date | 2023- 03 - 30 |
Expected Impact on the Company’s Financial Results | a positive impact is expected on the company’s results up on the project completion. |
Expected Date on Which the Impact on the Financial Results of the Company will Start | Starting from 2021 |
Expected Date for the Pilot Production of the Project to Begin | NA |
Duration of the pilot production of the project | NA |
Expected date for the commercial production of the project | NA |
Executing Party/Counter Party in the Project/Contract | • Etihad Etisalat Co. (Mobily) and Al- Fanar Construction consortium to implement the project in Central and Eastern operating areas.
• Branch of China Electric Power Equipment and Techn. (SGCC) to implement the project in Western and Southern operating areas. |
Related Parties | NA |
Additional Information | • 3.5 Million meters will be purchased from local manufacturers
• One third of the project’s value will be sourced from local content. |
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