Hyundai Heavy wins $3.2bn SEC order
EPC contractor set to build 2,640MW Jeddah South plant
Hyundai Heavy Industries has announced that it has been awarded a US $3.2 billion contract by Saudi Electricity Company (SEC) to construct the Jeddah South Thermal Power Plant project. The firm will be the sole EPC contractor on the project, which is set to be a 2,640 MW oil-fired thermal power facility.
Hyundai Heavy will build the plant on a turnkey basis, including engineering, procurement, construction, commissioning and testing. The firm will also be introducing its supercritical boiler technology for the first time in the Kingdom, aimed at maximising the power efficiency of the site.
When finished in 2017, the plant is set to meet around 5% of Saudi’s total power generation capacity, producing enough electricity for about 2 million people.
“In the midst of the global economic crisis, Hyundai Heavy’s independent technological expertise and competitiveness was once again acknowledged by winning this mega project as the sole EPC contractor. We expect the successful management of the power plant to serve as a stepping stone for Hyundai Heavy to emerge as a leading industrial plant EPC contractor,” said Lee Jai-seong, Hyundai Heavy Industries CEO and president.
Hyundai Heavy says that it has completed or is currently building power and water projects valued at around $10 billion in the Middle East, with a power capacity of 13,000 MW. Reports of the firm's contract win first appeared a week ago.