Electrical Industries Co.

What Electrical Industries Co. does

Electrical Industries Co. (EIC) is a publicly listed Saudi Arabian holding company (Tadawul:1303) that consolidates four manufacturing subsidiaries producing electrical distribution and power equipment — power transformers, distribution transformers, package substations, switchgear, switchboards, motor control centers, cable bus, and related low-voltage panels. Founded in 2005 as the parent of WESCOSA (established 1976 as a Westinghouse/Al-Quraishi joint venture) and Saudi Transformers Company (STC, established 1978), the group expanded with Saudi Power Transformers Company (SPTC, 2010) and Pauwels Transformers NV in Belgium (acquired April 2021). EIC employs over 1,600 people across more than 200,000 square meters of manufacturing space in the First and Second Industrial Cities of Dammam, with an additional plant in Mechelen, Belgium, and services branches in Riyadh and Jeddah. Product capabilities span up to 100 MVA medium-power transformers in the 145 kV class (with on-load tap changers since 1998), IEC- and ANSI-compliant designs verified by international laboratories, and specialized configurations for Middle East harsh-environment duty.

EIC operates a B2B enterprise sales model targeting national utilities, oil & gas majors, petrochemical operators, mining companies, and international EPC contractors. Its customer roster includes the Saudi Electricity Company (SEC), Saudi Aramco, SABIC, MA'ADEN, the Royal Commission, DEWA, KAHRAMAA, National Grid, Bechtel, Samsung Engineering, Technip, and SINOPEC. The revenue mix combines direct hardware sales of custom-engineered equipment (priced per project, not publicly disclosed) with a services stream covering repairs, testing, installation, commissioning, refurbishments, advisory, and consultancy. Manufacturing technology traces to Pauwels Belgium design platforms originally licensed into STC in 1982 and later folded into EIC via the 2021 Belgium asset acquisition, providing in-house know-how for power, distribution, and specialized transformer designs.

The group has SAR 562.5 million of capital distributed across 1.12 billion shares, with major shareholder Ajda Industrial Services Co. holding 18.75% following an internal restructuring in July 2026. The Al-Quraishi family retains board influence through Chairman Yousef Ali Al-Quraishi. Recent operating performance includes stated revenue growth from SAR 205 million (2021) to SAR 612 million (2025), Q2 2026 net profit of SAR 211.5 million (+55% YoY), and an H1 2026 cash dividend of SAR 140.625 million, alongside an Overweight rating from ANB Capital in July 2026.

Name

Electrical Industries Co.

Legal name

Electrical Industries Co.

Website

https://eic.com.sa

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Electrical Industries Co. (Tadawul:1303) is a Saudi holding company operating four manufacturing subsidiaries that produce power and distribution transformers, switchgear, package substations, and motor control centers for utilities, oil & gas, petrochemical, and EPC customers across Saudi Arabia, the GCC, and Belgium.

Ownership category

akta.pro rank

Product category

Electrical Equipment Manufacturing

NAICS

Electrical Equipment Manufacturing (33531), Electrical Equipment Manufacturing (3353), Switchgear and Switchboard Apparatus Manufacturing (335313)

SIC

Power, Distribution & Specialty Transformers (3612), Switchgear & Switchboard Apparatus (3613), Electrical Industrial Apparatus (3620)

akta.pro primary industry

Industrial Power & Energy Electronics Manufacturing Services (UPS, converters, inverters, chargers) (IMAGAGAI)

akta.pro secondary industries

Power Plant Electrical Systems EPC (Switchyard, Transformers, Protection & Controls) (EUAEAAAM), Distribution Substations & Switching Stations (MV) EPC (EUAEACAC), Electrical Contracting & Wiring (IMAFALAA)

Keywords

• Power transformer manufacturing
• Electrical distribution equipment
• Switchgear manufacturing
• Package substations
• Medium voltage transformers

Headquarters

HQ city

Dammam

HQ country

Saudi Arabia

HQ region

Middle East

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Electrical Equipment Manufacturing & Sales: Manufacturing and direct sales of electrical distribution equipment including transformers, switchgear, package substations, and low voltage panels to utilities, oil & gas, and industrial customers
2. Services & Maintenance: Services department providing repairs, testing, installation, commissioning, refurbishments, advisory and consultancy services. Includes Riyadh and Jeddah branch operations for Central and Western Region clients

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Electrical Industries Co. (EIC) is a holding company that manufactures and sells a diversified portfolio of electrical products and services — including power transformers (up to 100 MVA / 145kV class), distribution transformers, package substations, switchgear, motor control centers, cable bus, and low voltage panels — through its subsidiaries STC, WESCOSA, SPTC, and Pauwels Transformers NV. It also delivers installation, commissioning, testing, refurbishment, and consultancy services across Saudi Arabia and the GCC.

Product overview

Electrical Industries Company (EIC) is a holding company that operates as a unified platform of electrical manufacturing subsidiaries, combining over 45 years of industry experience since 1976. The company offers a diversified portfolio of electrical products and services through four main subsidiary brands: Saudi Transformers Company (STC) specializes in distribution transformers and low voltage panels; Wahah Electric Supply Company (WESCOSA) manufactures switchgear, power transformers, and motor control centers; Saudi Power Transformers Company (SPTC) produces medium power transformers up to 100 MVA; and Pauwels Transformers NV (Belgium) provides high-quality power transformers with international reach. Additionally, EIC operates a Services Department offering repairs, testing, installation, commissioning, and refurbishment services through regional branches. The company serves customers across the Kingdom of Saudi Arabia and the broader Middle East.

Differentiator

Problem solved

Functional benefit

Products and services

• Saudi Transformers Company (STC) — Distribution Transformers, Package Substations and Low Voltage Panels Manufacturing of distribution transformers, package substations, and low voltage panels for commercial, residential, and industrial customers in Saudi Arabia. STC is a 100% Saudi-owned manufacturer operating as a wholly-owned subsidiary of EIC.
• Wahah Electric Supply Company of Saudi Arabia (WESCOSA) — Switchgear, Power Transformers and Motor Control Centers Manufacturer of electrical distribution equipment including switchboards, panel boards, power transformers, motor control centers (MCC per NEMA ICS 3), cable bus, IEC switchgear, and IEC MCC for utilities, oil & gas, and industrial customers in Saudi Arabia.
• Saudi Power Transformers Company (SPTC) — Medium Power Transformers Manufacturer of medium power transformers up to 100 MVA with 145kV Class rating, serving the Saudi market and other GCC countries with solutions specialized for harsh regional environments.
• Pauwels Transformers NV — Belgium Power Transformers and Turnkey Solutions Manufacturer of high-quality, cost-efficient power transformers and provider of project engineering and turnkey solutions, leveraging over 75 years of transformer engineering heritage from its Mechelen, Belgium facility.
• EIC Services Department Comprehensive electrical equipment services including repairs, testing, installation, commissioning, refurbishments, advisory and consultancy services delivered through Riyadh and Jeddah branches serving Central and Western Region clients.

Quantifiable outcome

• Q2 2026 net profit of SAR 211.5 million representing 55% year-on-year increase
• +2 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• CG Power Systems Belgium (Pauwels Assets)coreOEM/ Whitelabel/ Licensing Partner · 1 April 2021EIC acquired all assets, know-how and IP of the former CG Power Systems Belgium activities in Mechelen, Belgium following the restart of business in April 2021. This included Pauwels transformer design platforms and subsequent innovations shared within EIC group plants since the early 80s.
• CG-Power Systems BelgiumcoreStrategic or Co-development Partner · 1 January 2010Joint venture established in 2010 with CG-Power Systems Belgium to form CG-Power Systems Saudi Arabia (CGPSSA). In 2016, EIC acquired full ownership making it 100% owned. This partnership enabled expansion into medium power transformer manufacturing.

Scale indicators10 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• ABB: Global leader in transformers, switchgear, drives and grid automation with a broad portfolio that overlaps directly with EIC's power transformer and switchgear lines, especially in large utility and industrial projects worldwide.
• GE Vernova: Spun off from GE in 2024 with a focus on power generation equipment, grid solutions and transformer technology. Competes with EIC in large power transformers and grid equipment for utility and renewable-integration projects.
• WEG SA: Brazilian global manufacturer of electrical equipment including transformers, motors, drives and switchgear. Overlaps with EIC's industrial electrical equipment portfolio and competes in international EPC and utility tenders.
• Schneider Electric: Global electrical equipment and industrial automation provider covering MV/LV switchgear, transformers and motor control. Comparable to EIC in MCC, panel boards and switchgear, though with a much broader software and services portfolio.
• Siemens Energy: Major OEM of power and distribution transformers, switchgear and grid solutions. Competes head-to-head with EIC for large transformer and substation orders from utilities and EPC contractors across the Middle East and globally.
• Hitachi Energy: World-leading transformer and grid-integration specialist, formed from ABB's Power Grids business. A direct competitor to EIC in power transformers and substations for utilities and industrial customers across MENA and globally.

Direct peers

• Alfanar: Saudi-based manufacturer of electrical products including transformers, switchgear, cabling and EPC services. Directly comparable to EIC as a regional competitor in distribution transformers and power equipment, serving the same Saudi utility, oil & gas and EPC customers.
• Hyundai Electric: Korean manufacturer specializing in power and distribution transformers, switchgear and rotating machinery. Directly comparable product portfolio to EIC and an active competitor in Middle East and EPC-driven markets.
• Lucy Electric: UK-headquartered specialist in medium- and low-voltage switchgear, distribution transformers and secondary distribution equipment. Comparable niche manufacturer competing with EIC's WESCOSA subsidiary in MV/LV switchgear markets.

Regional players

• Elsewedy Electric: Egypt-based integrated manufacturer of cables, transformers, switchgear and electrical products with strong MENA distribution. Comparable regional manufacturer competing for utility and industrial electrification projects across the Middle East.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/eic.com.sa
• LinkedInlinkedin.com/company/eicsa

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Electrical Industries Co.