Saudi Power Transformer Company (SPTC)’s alliance with PIF’s Saudi Electricity Company (SEC) is revolutionizing High-Voltage Transformer Production in the GCC

Saudi Power Transformer Company

Introduction:

The Saudi Power Transformer Company (SPTC) is a premier GCC power transformer manufacturer; they were established in 2010 as a Joint venture between Saudi Transformers Co. Ltd. and CG Power Systems-Belgium. The company embarked on a significant growth journey following a directive from the Saudi Electricity Company (SEC) to increase their production of High-Voltage Power Transformers. This directive was part of a strategic move to enhance local manufacturing capabilities in the energy sector.

Private Sector Partnership:

In response to this initiative, Saudi Power Transformer Company (SPTC) dramatically increased its production capacity. The company successfully doubled its production line of High-Voltage Power Transformers, escalating from producing 70 units in 2021 to an impressive 150 units by 2023. This expansion was a direct result of the productive partnership with PIF’s Saudi Electricity Company (SEC), reflecting a strong commitment to local manufacturing and innovation.

 

Impact and value creation:

 

The expansion of Saudi Power Transformer Company (SPTC)'s manufacturing capabilities had a multifaceted impact, significantly contributing to the GDP and fostering job creation and talent development within the region. This growth trajectory of Saudi Power Transformer Company (SPTC) not only aligns with Saudi Electricity Company (SEC)’s objectives of nurturing local content but also robustly supports the broader goals of Saudi Arabia’s Vision 2030. This strategic collaboration between Saudi Power Transformer Company (SPTC) and Saudi Electricity Company (SEC), a key PIF portfolio company, demonstrates a commitment to enhancing local industry capabilities, thereby reinforcing the Kingdom’s position in the global energy market.

 

PIF is spearheading economic reforms in Saudi Arabia with its diverse private sector initiatives, such as the Local Content Growth Program MUSAHAMA, Suppliers Development Program, and Private Sector Hub. These strategic investments and initiatives are crucial in promoting the sustainable growth of private sector entities and fostering job creation.