VOL. XLIII

No. 08

21-February-2000

SAUDI ARABIA

10 Saudi Electricity Firms Merged To Form New Company Ready For Privatization

Saudi Arabias 10 electricity companies on 16 February signed a merger agreement in a further decisive step towards privatization. On 2 March the first general assembly meeting of the new joint stock Saudi Electric Company (SEC) will be held to approve its articles. Later that month, Industry and Electricity Minister Hashim Yamani said, SEC would be granted a license by the...