SEC signs $1.44bn power deal for Riyadh plant
1,200 megawatt combined cycle plant to be built in Riyadh
Saudi Electricity Co has signed a SR5.4bn ($1.44bn) contract for an unnamed Saudi company to build 1,200 megawatts of power generation capacity at a plant in the Saudi capital, the state-controlled utility said on Sunday.
The PP10 combined cycle plant power plant in Riyadh currently has a generation capacity of 2,240 MW. The contractor will add 10 steam turbines which should be in operation in 46 months, SEC said in a statement without naming the company.
Saudi Arabian Bemco Contracting Co (Bemco) submitted the lowest bid of $1.43bn for the expansion project.
Saudi Electricity has an $80bn investment plan to increase its power generation capacity by 30,000 MW by 2018 to meet power demand which is growing at around eight percent each year.