SEC and Hyundai Heavy pen cooperation agreement
Saudi utility and Korean contractor exploring new investment opportunities.
Saudi Electricity Company (SEC) and Korean contractor Hyundai Heavy Industries (HHI) have signed an agreement to strengthen ties in the electricity generation sector in the Kingdom.
SEC chairman Saleh bin Hussein Al-Awaji announced the deal following a meeting with HHI chairman Ki Joy at the SEC headquarters in the Saudi capital, Riyadh.
The two companies have collaborated on a number of major power projects in the kingdom including the Jeddah South and Al-Shuqaiq power plants.
Al-Awaji said the pair explored a number of new opportunities during the meeting, including the potential for new energy in the country.
Jeddah South began operating with a capacity of 2,650MW in October 2012, while work at Al Shuqaiq power plant began in August 2013 to generate 2,640 MW.