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FINANCIAL NEWS
Saudi Arabia selects Siemens for USD966m power plant
07 Aug 2013
(MENAFN) Saudi Arabia has awarded German power firm Siemens a USD966 million contract to supply key components for a major combined-cycle power plant, Arabian Business reported.
The power station is aimed provide electricity to the Jazan Industrial city area in the southwest of Saudi Arabia, and to the refinery of Jazan, which will additionally be supplied with process steam.
Siemens’ scope of supply includes 10 gas turbines, of which six will be manufactured in Saudi Arabia, five steam turbines, 15 generators and 10 heat recovery steam generators.
Power demand in the Kingdom is expected to rise by about six percent annually amid a population boom which is set to see numbers rise from 28 million today to 34 million in 2020.
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