THE COMPANY'S EFFORTS TO LOCALIZE THE ELECTRICITY INDUSTRIES
Saudi Electricity Company makes great efforts to support and encourage local manufacturers to invest in the manufacture of materials and equipment for the company's projects. For example, the company has taken the following steps and procedures :
- Participate in international and local conferences and forums to present investment opportunities, localization strategies and meet with representatives of companies and investors..
- Provide investors wishing to work with the company with the necessary data that can assist them in performing economic feasibility analysis on previous and future consumption.
- Publication, on SEC's website, its five-year plan for materials needed in electric power distribution with technical specifications and scope of work..
- Sharing of materials and equipment specifications required by local manufacturers.
- Hold regular meetings with local manufacturers to open channels of communication and reach optimal solutions to obstacles and problems.
- Signing of a memorandum of understanding with the Royal Commission of Yanbu, AL-BAHRI Company, and the Council of Saudi Chambers to support the localization of manufacturing industries.
- Signing of a memorandum of understanding with MODON to support the localization of manufacturing industries (in progress).
- Cooperation and coordination with Saudi Aramco as regards the project on localization of electrical industries within the Energy City, which they planned to build in the Eastern Province.
- Holding specialized workshops with manufacturers to implement new mechanisms and procedures related to the development of new work methods.
- Holding meetings with representatives of foreign embassies to present investment opportunities and localization strategies of the company.
As a result of these efforts in localizing the electricity industries, the number of local manufacturers that SEC deals with for the supply of its various electrical materials has increased from 61 in 2001 to 606 factories by the end of 2019.