Saudi Electricity Co. - (5110)

23.44 0.05(0.21%) Last Update 23/05/2017 16:55 KSA

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Stock Market: Saudi Stock Exchange
Official Sector: Utilities
Market Cap Size: Large Cap
Gulfbase Sector: Utilities

Company Overview

Establishment Date: 14/12/1999
Paidup capital: SAR 41,665,938,150
Par value per share: SAR 10.00
Outstanding Shares ('000): 4,166,594
Major Shareholders

Activity:


Saudi Electricity Co. (SECO) is engaged in generating and distributing electricity power supply in the Kingdom of Saudi Arabia directly or through its wholly or partially owned subsidiaries. Saudi Electricity Co. plans to spend $ 80 billion over the next 10 years to meet Saudi Arabia's rising demand for electricity. The country needs in excess of 30,000MW extra capacity by the year 2020. By the end of 2012 SEC had a total installed capacity of 54,000MW and plans to add approximately 4,000MW over the next 12 months, with another 8,000MW by 2014, to raise the total installed capacity in the kingdom to 95,000MW by 2020. The company is also trying to supplement its supply with solar energy. The government has already announced plans to invest SR 408.75 billion to produce 41GW of solar energy by 2032.
 
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