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FINANCIAL NEWS
SPX wins $41m contract in Riyadh
21 Jul 2010
(MENAFN) SPX Corporation said its Thermal Equipment and Services segment has won a $41 million contract to design two air cooled condenser dry cooling systems for the Riyadh PP11 power plant to be set up in the Saudi capital, Reuters reported.
Riyadh PP11 is being developed by GDF Suez-France and Haljomaih Holding Company-Saudi Arabia, is scheduled to be operational in 2012.
Haljomaih Holding will jointly own and operate the combined cycle power plant along with Saudi Electricity Company and Sojitz Corporation-Japan.
The formal agreement was signed by SPX and Hyundai Heavy Industries Korea, which is spearheading the design, engineering, construction, installation, testing and commissioning for the Riyadh PP11 project.
As per the contract, SPX will design, manufacture and supervise the construction and commissioning of the new air cooled condenser dry cooling systems, said its top official.
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