Saudi’s Electrical Industries signs a $51 million extension to its transformer plant

The Electrical Industries Company has given the green light to expand its wholly-owned subsidiary, Saudi Power Transformers Company, for the production of extra-high-voltage transformers and 380-kilovolt (kV) reactors, with a budget of 192 million Saudi riyals ($51.20 million).

As outlined in a statement released on the Saudi stock exchange on Wednesday, the expansion project will also involve enhancing the current capacity of high-voltage transformers.

Construction is scheduled to commence in the second half of 2024, with completion targeted for the fourth quarter of 2026. Although the contract has not been awarded yet.

The statement further mentioned that the six-month pilot production phase is anticipated to kick off in the first quarter of 2027, followed by the commencement of commercial production in the third quarter of the same year.

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