Archives

Home

Media Center

Financial News

21-03-14

Saudi offers USD13.2 b loan to SEC

(MENAFN) Saudi government has awarded the state-owned power utility Saudi Electricity Co. a USD13.2 billion loan to help fund its power generation projects, according to Arab News. The loan, which was received on Thursday, is planned to be distributed after talks with the Finance Ministry. SEC head Ziyad Alshiha said that power usage in Saudi Arabia had risen by around 7 to 8 percent a year over the last decade and would continue to rise.