Emaar, The Economic City signs deal with SEC for electrical upgrade in KAEC

  • 1/9/2024
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RIYADH: Saudi Arabia’s King Abdullah Economic City is set to upgrade electrical facilities with two agreements signed by its master developer, reflecting a heightened focus on manufacturing electric cars. Emaar, The Economic City, the company behind the development of KAEC, has concluded two deals for the second and third phases of the emerging industrial hub on the coast of the Red Sea. Inked with the Saudi Electricity Co. and its subsidiary National Electricity Transmission, the deals aim to provide advanced electrical solutions with high reliability, the Saudi Press Agency reported. “We are pleased to sign these important agreements to meet the increasing demand for energy in KAEC, which is an incubator and attractive city for many projects that will contribute effectively to achieving many of the goals of the Kingdom’s vision,” said Mansour bin Abdulrahman Al-Salem, managing director of EEC. The newly signed agreements cement the growth of the Saudi economy as well as the swift industrial and developmental advancement witnessed by the Kingdom, leading to a surge in the volume of demand for electrical energy, in line with the requirements of the Vision 2030 projects. Moreover, the contracts also contribute to Saudi Arabia’s endeavors to provide advanced electrical solutions and services through a set of initiatives and strategies that aim to provide electrical energy with high reliability for major projects, according to the CEO of the SEC, Khalid bin Hamad Al-Qunun. While the first agreement seeks to connect the main substation in KAEC with the general electrical system network of NET, the second deal stipulates the delivery of electrical service to feed the projects. This comes as the modern global industrial sector specializes in manufacturing electric automobiles in the third phase of the Industrial Valley of KAEC. This includes the Saudi Ceer Co. factory for the manufacture of electric vehicles along with the factories of the Lucid electric car firm. In September, Lucid Group celebrated the official opening of its first international car manufacturing facility in Saudi Arabia. Situated in KAEC, the new facility is not only poised to serve the local market but also has its sights set on future exports.

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