Saudi Electricity Company (SEC) chairman Salih al-Awaji says the company will be broken up by the end of 2016 as part of government’s drive to increase efficiency among the kingdom’s utilities. “We expect to complete the planned privatization of assets this year,” he told Saudi satellite TV channel Al Arabiya on 31 August.

The announcement confirms the decision announced earlier by ‘Abd Allah al-Shihri, governor of the government’s Electricity and Cogeneration Regulatory Authority (Ecra), that “by the end of 2016 we will see the creation of four power generation companies from the assets of SEC.” (CONTINUED - 679 WORDS)