Company Profile
Company Overview
Saudi Electricity Company (SEC) was established by Royal Decree in 2000 as a Saudi Joint Stock Company with paid-up capital of SR (41.6) billion. SEC is (74.31%) owned by the Saudi Government, (6.93%) owned by Saudi Aramco and (18.76) owned by private/public investors. SEC owns/operates an integrated network of power transmission substations and transformers and is currently undergoing a major transformation program. SEC plans to invest $ 80 billion over the next 10 years to meet Saudi Arabia's rising demand for electricity. The company plans to invest SR 408.75 billion in solar energy by 2032.
Benefits
Company provides one-year contract with option to extend at the end of each year. Monetary compensation is paid in Saudi Riyals. There is no income tax in Saudi Arabia. Company pays monthly housing allowance at 25% of the monthly base salary and monthly transportation allowance at minimum of SR600. Other benefits are as follows:
- 36 calendar days of annual vacation per year. There are also two week-long company holidays that correspond to the religious holidays in Saudi Arabia (Approximately seven weeks of leave per year, combining Holidays and vacation)
- Annual renewable contract.
- Once a year airline ticket from and to home city or cash equivalent.
- Allowance for housing (25% of base salary).
- Transportation allowance.
- Medical insurance coverage.
- End of service award based on Saudi Arabian Law.
NOTES: Once the consultant has been overseas for 12 months, he will qualify for foreign tax exemption up to USD100, 400 per year (retroactive to start date) from your US taxes. Currently, there is no income tax in Saudi Arabia. SEC is a foreign company in a foreign land; no US employee payroll taxes are deducted from the consultant's pay. If the consultant is on family status (which is an option); family members residing in Saudi Arabia shall be covered by medical insurance.