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FINANCIAL NEWS
Saudi SEC hires HHI to build USD3.4b power plant
05 Aug 2013
(MENAFN) Saudi Electricity Co (SEC) has inked a USD3.4 contract with South Korea’s Hyundai Heavy Industries Co Ltd (HHI) to build a power plant in Shuqaiq, Reuters reported.
SEC is the largest utility company in Saudi Arabia, the world’s largest oil exporter.
The deal includes installing four steam generating units with highly efficient boilers to produce 2,640 megawatts of capacity, SEC said.
The plant, located in Jizan province, will be built within five years.
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