Business & Finance Club - Riyadh : Saudi Electricity Co. has signed a 223 million Saudi riyals ($59.46 million) deal with a local contractor to boost the capacity of its network in Riyadh to cope with extra loads there.

The deal involves connecting the Hittin No. 9005 new transformer station to an electricity grid with a voltage of 132 kilovolts, the paper reports citing Ali Al Barrak, chief executive of the utility which has a monopoly on electricity generation, transmission and distribution in the kingdom.

The two-year contract, signed with Mohammed Al Ojaimi Contracting Establishment, also entails making some modifications to a network linking some stations in northern Riyadh, he said according to the daily.