Saudi Electricity Company is currently implementing new power generation and distribution projects at a total cost of more than SR100 billion, its chairman Dr. Saleh bin Hussein Al-Awaji announced yesterday. He said SEC has set out a 10-year plan
The transaction led by Deutsche Bank and HSBC is the inaugural international Sukuk issuance by SEC and the largest international debt capital markets issuance from Saudi Arabia. The deal was concluded after a comprehensive roadshow covering key centres
Saudi Electricity Company (“SEC”) rated A1/AA-/AA- (all Stable) the largest utility in the Middle East has announced the successful closure of a USD 1.75 billion dual-tranche Sukuk issue, comprising a USD 500 million with a five year maturity and a USD
Qatar Electricity and Water Company disclosed the interim financial statement for the three month period ended March 31, 2012. The financial statements revealed a net profit of QR 290.8 Million in comparison to QR 226.6 Million for the corresponding
Saudi Electricity Co. (SEC) said Wednesday its first quarter net loss narrowed by 25 percent, thanks to increased revenue. The utility company recorded a net loss of SR583 million ($155 million) compared with a loss of SR774 million in the same period of
Saudi Electricity Company (SEC) announced yesterday it suffered a huge loss of SR583 million in the first quarter of 2012, the Saudi Press Agency reported. The company said the amount was 25 percent less than the losses it incurred during the same period
Allen & Overy, through its association with local law firm Abdulaziz AlGasim Law Firm, advised Saudi Electricity Company (SEC), on the successful closure of its $1.75 billion dual-series Sukuk issue. The transaction is SEC's first international Sukuk
Abu Dhabi National Energy Company has sold a stake in Tesla, a US electric car maker, and bought into a power plant in the semi-autonomous Kurdistan region in northern Iraq. The government-controlled company, also known as Taqa, has already invested in
Abu Dhabi National Energy (Taqa), a state-owned oil explorer and power supplier, has sold its seven per cent stake in Tesla Motors, cashing out from the US electric carmaker’s steady stock rally. Taqa, which is 75-per cent owned by the government of Abu
Abu Dhabi National Energy Co (Taqa) sold its 7-percent stake in electric carmarker Tesla Motors on the stock market, booking a profit of $113 million, the state-owned energy and utility firm said on Sunday. Taqa, which is 75-percent owned by the
Saudi Electricity Co. (SEC) has signed a $1.4 billion loan agreement with international banks to finance the construction of a new power plant, it said in a statement posted in Arabic on the Saudi bourse website Saturday. The loan, which will be repaid