Media ININ Economy We Trust
Media In / Riyadh 4 December
Riyadh Chamber organized a workshop on “Presentation of Investment Opportunities at the Saudi Electricity Company”, represented by the Committee of Industry, Energy and Mineral Resources, this morning at the Chamber’s headquarters.
Eng. Nayef bin Nasser Al-Bakran, Acting Director of Emiratisation and Rehabilitation at Saudi Electricity Company, said that the company has a localization strategy through supporting factories and national companies, indicating that it deals with 571 local factories. The Saudi company leads the government procurement of local factories A 68% increase over the last four years.
Eng. Muhannad bin Ezzab Al Malki, Business Development Analyst at Saudi Electricity Company, revealed that the company intends to offer investment opportunities worth about 100 billion riyals over the next five years. These projects range from the field of supply, transport and distribution. Via the company’s website
Al-Maliki said that the company currently has 9 million customers and intends to reach 2.3 million customers by 2021, stressing that Emiratisation is one of the company’s top priorities. The company launched three resettlement initiatives in 2014, which included supporting contractors and manufacturers and attracting new investors. That Saudization rate is one of the most important motivates companies to win a tender with the Electricity Company, and that the company preferred the local factory by 10% of the foreign factory at the price of the tender.
