Bahri Pens MoU with SEC
- Business & Finance
The National Shipping Company of Saudi Arabia (Bahri) and Saudi Electricity Company (SEC) have signed a Memorandum of Understanding (MoU) for a period of five years, appointing Bahri to transport all the equipment, tools, spare parts and products imported from outside by SEC.
The MoU was signed by Engr. Ibrahim Al-Omar, CEO of Bahri and Engr. Ziad Al-Shiha, CEO of SEC.
“This is aimed at supporting strategic resettlement of projects for electrical industries and exchange of experiences between the two companies to provide appropriate work environment. This may also contribute to the successful implementation of government plans to promote domestic industries in light of the overall economic boom in the Kingdom of Saudi Arabia at all levels in recent years,” Bahri said in a statement.
According to the MoU, a joint working group comprising a number of specialists and experts from the two companies will be formed to study opprtunities for cooperation strengthening and to put in place plans needed to implement the strategies for an effective transportation and resettlement of electrical industries.
Integrated logistics services for the marine, land and air transportation will be provided as stipulated in the MoU.
In line with the MoU, SEC will nominate Bahri to offer its services to those who deal with suppliers and contractors from internally and externally.
SEC revealed in May its strategy to localize electrical industries in the Kingdom through three major initiatives based on stimulating local contractors and manufacturers, and highlight investment opportunities in the promotion of spare parts and materials industries locally.