Saudi Electricity Company (SEC) awarded the project “Install and commissioning of 10 million smart meters” for consumers across the Kingdom.
The total value of the signed contract is SAR 9,555,099,334.
The project was awarded to a consortium of Etihad Etisalat Co. (Mobily) and Al- Fanar Construction for the central and eastern regions of the Kingdom of Saudi Arabia.
A branch of China Electric Power Equipment and Technology (SGCC) was awarded the project for the western and southern regions of Kingdom of Saudi Arabia.
As per the report, the start date of the project will be from 19 December 2019 and is expected to be completed by March 30, 2023.
The Project will be funded through the SEC’s own resources and external funds, the statement noted, adding that 3.5 million smart meters will be purchased from local manufacturers.
SEC also said that the project is expected to have a positive impact on the company’s financial results as of beginning of 2021.
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