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FINANCIAL NEWS
Saudi Electricity awards contract to Shaw Group
25 Apr 2010
(MENAFN) The Chief Executive Officer at the Shaw Group Inc. announced that it has been won a multi-phase contract with the Saudi Electricity Company, according to a press statement.
Under the contract, Shaw will perform a three-phase study to define and recommend operational improvements at 53 power plants throughout the Kingdom of Saudi Arabia.
Once the study is complete, Shaw expects to contract with Saudi Electricity Company to provide the modification services for those plants.
Shaws contract was signed just before King Abdullah of Saudi Arabia announced his countrys commitment to the research and funding of nuclear power.
The undisclosed value of the contract will be included in Shaws Fossil, Renewables & Nuclear segments backlog of unfilled orders in the third quarter of fiscal year 2010.
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