Saudi Electricity Company and Bank of America officials hold press conference

March 22, 2011

Senior officials of the Saudi Electricity Company (SEC) and Bank of America held a joint press conference on the fringes of the 2011 Jeddah Economic Forum yesterday to highlight joint projects in the field of electricity in the Kingdom. Ali bin Saleh Al-Barak, Deputy Executive Manager of the SEC, told reporters that power-related projects designed to meet the Kingdom’s electricity needs over the next few years are expected to cost SR 80 billion [$21.33 billion]. The Saudi private sector will be asked to implement a number of them, he noted, adding that this year’s projects alone are estimated to cost as much as SR 30 billion [$8 billion].