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Saudi Power Transformers Company, a subsidiary of Electrical Industries Company (EIC), has signed a contract with oil major Saudi Aramco to supply transformers.
The 153-million-Saudi-riyal ($40.78 million) deal has a 20-month duration, EIC said in a statement to the Saudi stock exchange on Thursday.
The contract is expected to positively impact EIC’s financial results from 2025.
In April, the company’s other subsidiary Saudi Transformers Company bagged a SAR79 million contract from Kuwait’s Ministry of Electricity, Water and Renewable Energy.
(Writing by D Madhura; Editing by Anoop Menon)
