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FINANCIAL NEWS
Saudi-Chinese group set to launch $2.4b project
12 Sep 2010
(MENAFN) A Saudi Sino group of Al Arrab Contracting and SepcoIII Electric Power Construction Corp will start building a 2,750 megawatt power plant in Ras Al Zour on the Arabian Gulf this month, the Riyadh based company said.
In a phone interview from Riyadh, Samer Arafa, executive vice president, Al Arrab, said construction of the facility will begin right after Eid al Fitr holidays and be finalized in March 2014.
Saudi Arabia�s state controlled Saline Water Conversion Corp awarded the $2.4 billion contract to the Al Arrab led alliance on Sept 1.
Siemens, the project�s sub contractor, will supply steam turbines and power plant equipment, Arafa said
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