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FINANCIAL NEWS
GDF Suez group wins $2.1b contract in Saudi Arabia
16 Jun 2010
(MENAFN) SPA reported that a consortium led by GDF Suez SA has won a contract to build a $2.1 billion gas-fired power plant in Saudi Arabia as part of the French utility?s efforts to consolidate its position as leading private power producer in the Gulf region.
GDF Suez will have a 20 percent share of the 1,730 megawatt plant, to be built at a site 125 kilometer (78 miles) west of the capital Riyadh by March 2013.
Other partners in the project are Saudi holding company Aljomaih Holding Co. and Japan?s Sojitz Corp, each with a 15 percent stake, and Saudi Electricity Co., with the remaining 50 percent.
GDF Suez currently has 17,000 megawatts of power capacity in operation or under construction in the Gulf, including in Bahrain, Abu Dhabi and Qatar.
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