Logo of Electrical Industries Co.
Electrical Industries Co.'s board of directors approved today, May 15, the expansion project for the plant of Saudi Power Transformers Co., a wholly-owned subsidiary, according to a statement to Tadawul.
The project targets manufacturing 380 kilovolts extra high-voltage transformers and reactors. It also entails ramping up the current capacity of high-voltage transformers, at a total cost of SAR 192 million.
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On-site construction works are expected to start in H2 2024 and to be completed in Q4 2016. The trial run is schedule to begin in Q1 2027 and last for six months. Commercial production is forecast to start in Q3 2027, said the company.
The project will be funded from the company’s internal cash resources, bank facilities and other finance programs.
Its impact is poised to be reflected in the 2027 financial results, said the company, noting that there are no related parties.
The project is part of Electrical Industries’ strategy that aims at diversifying its products and achieving leadership and innovation in the field of electrical products industry. This is besides localizing the high-tech industry to enhance local content, in line with the Saudi Vision 2030.
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