SEC signs outline deals with Asian firms
Saudi Electricity Co (SEC) said on Thursday it had signed memorandums of understanding (MoU) with Chinese and Japanese firms
Saudi Electricity Co (SEC) said on Thursday it had signed memorandums of understanding (MoU) with Chinese and Japanese firms.
SEC met officials of bank ICBC, who said they were willing to invest and take part in power projects in Saudi Arabia.
The agreement with Shanghai Electric is to boost local content in Saudi power services and to invest in independent power producer (IPP) projects.
SEC signed with Power China and Saudi Aramco IPO-ARMO.SE to finance, build and operate power projects and invest in renewable energy.
SEC also signed an MoU with telecoms firms Huawei and ZTE Corp.
Chinese companies also showed interest in providing consultancy and studying infrastructure and renewable energy projects, as well as investing in those projects.
SEC signed a deal with Tokyo Electric Power Company (TEPCO) to manage power demand in the kingdom.
It signed with JGC Corp for waste to energy projects in the kingdom.
The Saudi firm signed with Mitsubishi Corp to finance, invest, build power plants and renewable energy.