ABB Ltd. (ABB) received a Saudi contract to design, supply, install and commission five new substations in the country. The contract has been awarded by the Saudi Electricity Company (:SEC), the national power transmission and distribution operator.
ABB will construct the 110/13.8 kilovolt (kV) enhanced substations, which will meet the rising demand for electricity in the Western and Central regions of the country. There has been a continuous rise in the residential and commercial demand for electricity.
Among the equipment to be provided by ABB include GIS (gas insulated switchgear), transformers, auxiliary AC/DC system and capacitor banks. Together with a SCADA (supervisory control and data acquisition) system, the automation, control and protection equipment, and the global IEC 61850 standard compliant communication system will also be supplied by ABB. Commissioning of the substations is expected to be done by 2014.
An order of above $250 million was also received recently by ABB for the new substations and reinforcement of existing ones in the eastern and central regions of the country.
ABB Ltd. is a Zurich (Switzerland) based power and automation technology company. The company operates in approximately 100 countries, structuring its global organization into five regions: Europe, Americas, Asia, the Middle East and Africa. A major competitor of ABB Ltd. is Siemens AG (SI).
We maintain a Zacks #4 Rank (short-term Sell recommendation) on ABB Ltd.
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