SEC extends deadline on Rabigh power project
Contractors now have until end-October to bid for US $4bn plant
Citing the possibility of saving money due to a fall in costs, Saudi Electricity Company (SEC) has extended the deadline for bids to build a 2,400 MW power plant in Rabigh by three months.
According to the Arab News daily, the estimated cost of the plant has dropped by 20% to around US $4 bilion. Contractors now have until October 31 to submit their bids, instead of until the end of this month.
The Rabigh expansion accounts for around 12% of the extra 20,000MW SEC is planning to come online between now and 2018, at a total cost of $80 billion, said the paper.