Saudi Electricity Company (SEC) has signed an agreement with the National Shipping Company of Saudi Arabia (Bahri) for the shipment of materials and equipment used in the generation, transmission and distribution of electrical power.
This deal is part of SEC's strategy of localization of the electrical industry and its related services, especially transportation and shipping, to enhance the contribution to the Kingdom’s economy and strengthen the cooperation between national companies.
The contract, signed by Ziyad Al-Shiha, CEO of SEC, and Ibrahim Al-Omar, CEO of Bahri, covers the receipt, transfer and shipping of materials and equipment from suppliers all over the world, Saudi Customs clearance, and delivery to all SEC work sites.
Al-Shiha said: “This agreement is an extension of the memorandum of understanding that SEC and Bahri signed in 2015, and is aimed at supporting the implementation of the strategy of localization of the electrical industry and supporting services. It marks a quantum leap for cooperation between national companies, promoting localization of transportation and shipping services and leveraging each other’s expertise to transport materials necessary for the generation, transmission and distribution of power in accordance with international standards.”
He added: “This step will enable concerned parties in the supply chain to ensure reliable delivery as per their scheduled needs and provide the best possible service to clients and keep pace with the future expansion plans in line with the objectives of the Kingdom’s Vision 2030. The signing of the contract will significantly contribute to getting regular and reliable supply in order to meet the needs of all company's sectors with maximum efficiency and effectiveness.”
Bahri is one of the world’s major maritime shipping companies that buys, charters, and operates vessels for the purposes of transporting crude oil, chemicals, dry goods, and general cargo, with a huge fleet of advanced ships.
SEC signs deal with Bahri
SEC signs deal with Bahri
