Bawan Company said that construction on the new high-voltage transformer plant of its subsidiary, United Transformers Electric Company, is expected to start in the first half of 2025.
The first phase of the factory is likely to cost 80 million Saudi riyals ($21.33 million), the company said in a statement to the Saudi stock exchange.
The project will be financed through Bawan’s own resources and bank facilities. The total cost and location of the plant was not disclosed.
The six-month trial production will start in the first quarter of 2027, with commercial production expected to begin in the fourth quarter of 2027.
However, the construction contract has not yet been awarded, the statement said.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
Subscribe to our Projects’ PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
