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17/03/2025 03:51 AST
Saudi-based Electrical Industries Company has announced that one of its key subsidiaries - Saudi Power Transformers Company - has been awarded a contract by Tecnicas Reunidas Saudia for Services and Contracting Company to supply transformers for a major project.
Headquartered in Al Khobar, Tecnicas Reunidas Saudia is a key unit of leading Spanish EPC contractor catering to the oil and gas, refining and petrochemical, power generation and infrastructure sectors.
Under the SAR129.3 million ($34.3 million) deal, Saudi Power Transformers Company will be responsible for the design, manufacture and supply of transformers, said Electrical Industries Company in its filing to Saudi bourse Tadawul.
The entire contract will be completed in 18 months, it stated.
The contract is expected to have a positive financial impact on the company results for the year 2026, it added.
Trade Arabia
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| RIYADHCABLES | 122.20 | -1.40 (-1.14 |
| ASTRAINDUSTRIAL | 147.60 | 0.40 (0.27 |
| OBEIKANGLASS | 31.20 | 0.90 (2.97 |
| RAOOM | 80.00 | -0.50 (-0.63 |
| BAWAN | 56.10 | 1.30 (2.37 |
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Trade Arabia
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Saudi Gazette
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The Dubai-based logistics firm Aramex has confirmed a new acting CEO after Othman AlJeda, the incumbent, resigned for personal reasons.
The change at the top comes just weeks after Abu Dhabi
Gulfnews
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The leading UAE banks have put up some sizable growth in their Q1-2025 results, with ADIB's net profit before tax totalling Dh1.9 billion - and that's from an impressive 18% gain year-on-year.
Gulfnews
24/04/2025
Salalah Port has received five modern dual-fuel methanol-powered container vessels from Maersk's fleet, marking a significant milestone in the port's infrastructure development and readiness to accom
Times of Oman
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