Doosan Heavy bags $900mn power plant deal in KSA
Doosan Heavy will build a 1,519-megawatt power plant that will supply electricity to the Fadhili Gas Complex, 85 kilometers northwest of the port of Jubail.
Doosan Heavy Industries & Construction has clinched a power plant construction deal worth 1 trillion ($895.7mn) won in Saudi Arabia, a company official has revealed.
Through a consortium with France-based energy company Engie, Doosan Heavy won the construction bidding for the state-owned oil company Saudi Aramco and Saudi Electricity Company's Fadhili power plant project.
Doosan Heavy will build the 1,519-megawatt power plant that will supply electricity to the Fadhili Gas Complex, 85 kilometers northwest of the port of Jubail.
To meet the schedule of starting the plant's operations by the end of 2019, Doosan will use the turnkey, build and operate system.
"The company has won the major construction deal amid the global downturn in demand due to low oil prices," said a Doosan Heavy official.
"We understand Saudi Arabia has plans for more power plant projects to add a total of 40,000 megawatts in capacity by 2024. We believe the Fadhili deal would put the company in an advantageous position in future bids."
Doosan Heavy also built the Rabigh 2 Power Plant, about 160kms north of Saudi Arabia's Jeddah in April last year.