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Kingdom Holding Company’s CEO Signed 180 Million SAR Electrical Power Agreement for Jeddah Economic City & Jeddah Tower Project

February 8, 2018

The CEO of Kingdom Holding Company (KHC), Eng. Talal Almaiman, who is also Board Member of the Jeddah Economic Company (JEC), signed at an estimate cost of 180 Million Saudi Riyal electrical power agreement on behalf of the JEC partners (which includes Kingdom Holding Company) with Eng. Ziad Mohammed Al Shiha, CEO of Saudi Electric Company (SEC). 

The signing ceremony took place on Wednesday 7th February 2018 at SEC headquarters in Riyadh, in the presence of Eng. Laith Ahmed Al-Bassam, President & CEO National Grid SA, Eng. Khaled Saad Al-Rashed, CEO of Saudi Electricity Project Development Company, Eng. Mansour Abdulrahman Al-Qahtani, Executive Vice President of Distribution & Customer Services, Mr. Mounib Hammoud, CEO of JEC, Dr. Hisham Jomah, Chief Development Officer of JEC, Mr. Sultan AlKusayer – Fund Manager of Alinma Jeddah Economic City (AJEC), and Mr. Mohammed Al Eisa – Assistant Fund Manager of AJEC.

Eng. Almaiman stated, “By signing this important electrical power agreement, the main infrastructure services of Jeddah Economic City and Jeddah Tower are considered complete.”

Mr. Mounib Hammoud, CEO of JEC commented: “The importance of signing this agreement is that it marks the start of the medium voltage sub-station which will take about 3 years as it’s the main key driver for all the support services in addition to supplying the City and Tower with electricity for phase one. Moreover, we will be signing off additional agreements to supply the project with domestic water supply and a district cooling plant for the city that we will be announcing soon.”