01 March 2018

Kingdom Holding Company (KHC) has signed a power supply agreement worth SR180 million ($48 million) with Saudi Electric Company (SEC), on behalf of its Jeddah Economic Company (JEC) partners, which is developing the Jeddah Economic City.

CEO of KHC Talal Almaiman said with this move “the main infrastructure services of Jeddah Economic City and Jeddah Tower are considered complete.”

Mounib Hammoud, CEO of JEC, said the agreement marks the start of the medium-voltage substation which will take about three years as it’s the key driver for all the support services for Phase One.  “We will be signing additional agreements to supply the project with domestic water supply and a district cooling plant that we will be announcing soon,” he added.

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• Power deal sealed for Jeddah Economic City
• In Brief

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