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SEC plans $24bn investment
- Saudi Arabia: Wednesday, June 13 - 2007 at 11:18
Saudi Electricity says it will invest $24bn in the kingdom's power grid by 2010, Reuters reported. SEC made the announcement after receiving an A+ issuer default rating from Fitch. The Fitch report said the financial position of the company was 'strong', according to an SEC statement. The company has previously said $13bn investment is needed in the next decade to cope with rising demand for electricity.
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James McInerney, News EditorWednesday, June 13 - 2007 at 11:18 UAE local time (GMT+4)
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This article was updated on Thu Jun 21 2007.
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