Local content contributes SAR 150B to Saudi Electricity projects: Official

Mahmoud Basra, Director of Local Content at the Saudi Electricity Co. (SEC), said the local content—reflecting the proportion of services produced domestically— exceeded SAR 150 billion (around $40 billion) over the past five years.

The utility signed mandatory localization and procurement agreements valued at over SAR 6 billion to establish nine factories, some producing items for the first time in Saudi Arabia, Asharq Al-Awsat newspaper reported, citing Basra.

He added that this initiative would strengthen the company's future ability to meet its needs and build integrated supply chains in the coming years.

SEC surpassed the targets set by the Public Investment Fund for 2025, with the local content reaching 63%, above the next year's target of 60%, the official said. He noted that significant achievements were made to localize the industry and enhance the local content.

Further, Basra said the local content promotes reliance on national resources and workforce, contributing to the creation of new job opportunities.

The Bena Program has seen rapid developments to keep pace with growth in the sector, achieving many interim objectives, he noted.

According to Argaam's data, the program was launched by SEC to build and employ national capabilities, based on its interest in maximizing local content and motivating national companies in the field of electricity to contribute to realizing the Saudi vision 2030.