Saudi: Keir International rolls out $65.86mln deal

Saudi: Keir International rolls out $65.86mln deal

Riyadh –  Keir International Company inked a SAR 246.97 million agreement with National Grid Company-NG on 20 November 2023, according to a bourse filing.

Under the 12-month deal, the company will link Al Nazim Bulk Supply Point (BSP) with a 132 kilovolt (KV) network in Riyadh.

The agreement covers the deployment of high voltage underground cables 132KV network expansion, gas-insulated switchgear (GIS) substation extension, protection, telecommunication, and substation automation for remote ends.

The financial impact will be reflected on the listed company’s income statements in the first quarter (Q1) of 2024 until Q4-25.

Earlier this week, Keir International and Saudi Electricity Company (SEC) teamed up for a SAR 26.43 million project.

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