Marubeni Corp lowest bidder for $3.2bn power plant
Japanese-led consortium submits lowest bid for Riyadh facility to SEC
A Japanese consortium has emerged as the lowest bidder for the $3.2 billion contract to construct, own and operate a power plant in Riyadh, Saudi Arabia, with a capacity of 2,000 megawatt (MW).
Reuters reported that out of the five consortia to bid, the group led by Marubeni Corp and including Kansai Electric and Saudi Masader Co for Power, Water and Gas submitted the lowest bid to Saudi Electricity Co (SEC).
A consortium led by Japan's Marubeni Corp has proposed the lowest tariff to build a 2,000 megawatt power plant in Riyadh for Saudi Electricity Co (SEC).
SEC issued a statement saying that all of the bids would be scrutinized before signing a deal by the end of March.
The state-owned company received the bids for a combined cycle plant called PP11 which is to be built in the Saudi capital as part of the KSA’s plan to spend $20 billion on adding at 10,000 MW of extra power to the electricity grid.