Electrical Industries signs contract of design, manufacture and supply of transformers by SAR 20.5 million

Electrical Industries Co. announced to its shareholder that one of its subsidiaries (Saudi Power Transformers Co.) has signed a contract with AL- Toukhi Co. for Industry, Trading & Contracting (Related party) to design, manufacture and supply Transformers.

The company stated on Tadawul that the contract value is SAR 20.5 million, with a duration of 12 months. The contract is expected to have a positive financial impact on the Company’s results for the year 2024.

It also noted that the Vice Chairman of the Board, Eng. Mahmoud M. AL-Toukhi (Indirect interest), as he is the vice chairman of AL-Toukhi Co. for Industry, Trading & Contracting, is involved as a related party.

The Company confirms that the contract is within the ordinary course of business and has no preferential treatment.