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Saudi Electricity Company (SEC) has signed a US$1.07bn contract to deliver electrical service for housing projects
The contract, signed between the firm and the Ministry of Water and Electricity, is for 29 projects being implemented by the Ministry of Housing, according to a bourse statement.
SEC added that the financial impact of the contract will begin to be felt in Q4 2015. It will deliver electricity for three years to the housing projects, which have a cost of US$3.74bn.