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FINANCIAL NEWS
Saudi Electricity, Alfanar sign USD507m contracts
25 Apr 2011
(MENAFN) Saudi Electricity Company stated that it signed two deals worth USD507 million with Alfanar Construction Company by which the latter would build railway substations and reinforce a power plant of the Saudi Electricity Company, reported Arab News.
Alfanar stated that the railway substation contract included the construction of six 380- kilovolt substations for the high-speed double-track Haramain Railway that is planned to connect the two major cities Makkah and Medina.
As for the reinforcement of the power plant, Alfanar said that it would support the power plant extension in Hail with 280MW. The company pointed out that the project is aimed at increasing the plant’s capacity to meet increasing power demands.
It is worth noting that the deals were signed by Saudi Electricity Company board chairman, Dr.Saleh AL Awaji, and Alfanar’s vice-chairman, Sabah Al Mutlaq.
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