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Saudi Electricity Company Signs Agreement With Bahri To Support Localization Of Transportation And Shipping Services In The Kingdom

31 MAY 2016

Riyadh - Saudi Arabia, May 30, 2016 – Saudi Electricity Company today signed an agreement with the National Shipping Company of Saudi Arabia (Bahri) for the shipment of materials and equipment used in the generation, transmission and distribution of electrical power. This deal is part of SEC's strategy of localization of the electrical industry and its related services, especially transportation and shipping, to enhance the contribution to the Kingdom’s economy and strengthen the cooperation between national companies.

The contract, signed by Eng. Ziyad Al Shiha, Chief Executive Officer of SEC and Eng. Ibrahim Al Omar, CEO of Bahri, covers the receipt, transfer and shipping of materials and equipment from suppliers all over the world, Saudi Customs clearance, and delivery to all SEC work sites in the Kingdom.

Al Shiha said, “This agreement is an extension of the memorandum of understanding that SEC and Bahri signed in 2015, and is aimed at supporting the implementation of the strategy of localization of the electrical industry and supporting services. It marks a quantum leap for cooperation between national companies, promoting localization of transportation and shipping services and leveraging each other’s expertise to transport materials necessary for the generation, transmission and distribution of power in accordance with international standards for the shipment of goods. This step will enable concerned parties in the supply chain to ensure reliable delivery as per their scheduled needs and provide the best possible service to clients and keep pace with the future expansion plans in line with the objectives of the Kingdom’s Vision 2030. The signing of the contract will significantly contribute to getting regular and reliable supply in order to meet the needs of all company's sectors with maximum efficiency and effectiveness, especially with the increasing demand for delivering electrical power to subscribers.”

Al Omar added, “This cooperation with SEC is a significant step as we continue to implement our ambitious growth plans in the Kingdom. It will boost Bahri’s position as one of the world’s biggest shipping and maritime transportation conglomerates, and help us expand our integrated logistics services that are of high quality and efficiency which we have been offering for four decades. It will also enhance our Saudization efforts while also strengthening ties with other national companies.” Bahri is one of the world’s major maritime shipping companies that buys, charters, and operates vessels for the purposes of transporting crude oil, chemicals, dry goods, and general cargo, with a huge fleet of advanced ships.