Bid & Tender
SEC to Privatise Assets by 2016-End

Date : Sep 01, 2016

Saudi Electricity Company plans to privatise its assets by the end of the year, its chairman said yesterday, part of a drive to increase efficiency in the Kingdom's utilities.

 

"We expect to complete the planned privatisation of assets this year," said Saleh Al Awaji.

 

Saudi Arabia's utility regulator said in February that SEC would be split into several firms by the end of 2016 to increase efficiency.

 

Awaji said demand for power in the country had declined for the first time in the company's fifteen year history after a removal of government subsidies.