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Keir International awarded 77m agreement from SEC

Keir International awarded 77m agreement from SEC
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Riyadh – Mubasher: Keir International Company was awarded a SAR 76.93 million contract, on 21 May 2024, from Saudi Electricity Company (SEC), according to a bourse disclosure.

Under the agreement, Keir International will establish a ground line between two stations in Wadi AD Dwaser in the Southern Region.

The deal covers high voltage 132 kilovolts (kV) underground cable works, substation works, protection works for substations, and communication works for SCADA and SAS systems.

In November 2023, the two companies joined forces for a SAR 34.13 million project in a Riyadh-based station.

Last year, the net profits of Keir International dropped by 50.43% to SAR 9.33 million from SAR 19.84 million in 2022.

Revenues increased by 22.03% year-on-year (YoY) to SAR 209.17 million as of 31 December 2023 from SAR 171.41 million.