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  • 07-07-14

    Saudi Electricity to receive USD719m from debt repayment

    (MENAFN) Saudi Electricity Co (SEC) is expected to gain as much as USD719.9 million in a debt repayment from major customers, according to Arabian Business.

    A bourse statement said that the debt was previously recorded as provisions against receivables outstanding and the payment will have a significant impact on earnings.

    SEC did not clarify in which quarter the payment will be reflected but it obtained approval from relevant authorities for it on July 3.

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