Saudi Electricity Company has announced its intention to offer investment opportunities amounting to about 100 billion riyals during the next five years.
“These projects and opportunities range from supply, transport and distribution,” said Eng. Muhannad bin Azab al-Maliki, business development analyst at Saudi Electricity Company, during a workshop at Riyadh Chamber. “The field is open to local companies and investors to submit via the company’s website.
Al-Maliki confirmed that the electricity company currently has 9 million customers and intends to deliver the service to 2.3 million customers by 2021, pointing out that Emiratisation is one of the company’s top priorities, which launched three resettlement initiatives in 2014, supporting contractors and manufacturers and attracting new investors.
The Saudization rate is one of the most important factors that motivates the companies to win a tender with the Electricity Company. The company preferred the local factory to 10% for the foreign factory in the price of the tender.
“The company has a localization strategy through supporting factories and national companies,” said Nayef Al-Bakran, director of the Emiratisation and Rehabilitation Department at the Saudi Electricity Company. He said that the company deals with 571 local factories and that the Saudi company leads the government procurement of local factories by 68% During the last four years..