SEC projects worth SAR 120-130 bln underway, says CEO

Saudi Electricity Co. (SEC), the largest utilities provider in the Gulf region, currently has projects worth between SAR 120 billion and SAR 130 billion in the pipeline, which include the kingdom’s transition to a smart metering system, the company’s chief executive Ziad Al-Shiha told Argaam.

The utility provider will also focus on fossil fuel projects which will have a set operating cost of SAR 0.07 per kilowatt.

SEC installs 500,000 meters annually and aims to replace the current 7 million conventional meters with smart meters across the kingdom in the near future.

Argaam reported in March that SEC had set a target of 12 million smart meters that it planned to install by 2025.

Al-Shiha also highlighted the importance of youth efforts and innovative skills, and said the company managed to save more than SAR 1 billion in the first year of launching 24 initiatives proposed by young Saudi engineers.

SEC has more than 35,000 employees, with Saudi nationals accounting for 87 percent.