Riyadh – Mubasher: Saudi Electricity Company (SEC) has officially signed four contracts for the Smart Metering project, according to a statement to the Saudi Stock Exchange (Tadawul).
The project involves the installation and commissioning of 10 million smart meters for consumers across the Kingdom.
The SAR 9.55 billion deal will include the purchase of 3.5 million meters from local manufacturers, with one third of the project’s value to be sourced from local content.
Mobily and Al Fanar Construction consortium will implement the project in central and eastern operating areas, while China Electric Power Equipment and Technology Company (SGCC) is set to carry out the project’s works in western and southern areas.
The company's Chairman Khaled Saleh Al Sultan said that the Smart Metering project comes in line with the national transformation program and the Saudi Vision 2030, noting that it will enhance transparency and energy efficiency.