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Samsung Engineering Co., South Korea’s largest industrial plant builder, said Thursday that it has secured a $1.5 billion order to build a power plant in Saudi Arabia.
Under the deal with Saudi Arabia’s Saline Water Conversion Corp., the South Korean company will build the 3,100-MW power plant in Yanbu, 350 kilometers north of the country’s second-largest city of Jeddah by December 2016.
The power plant will supply electricity to the Yanbu Industrial complex, Samsung said.
“This order represents Samsung Engineering’s strong standing in the power plant business, as it is the third power plant we have received in Saudi Arabia since 2011,” Samsung Engineering’s President and CEO Park Ki-seok said at the signing ceremony in Yanbu, according to Samsung Engineering.
Samsung Engineering said its consortium partners, Al Toukhi and Shanghai Electric, also have a $1.5 billion interest in the project. (Yonhap News)
Under the deal with Saudi Arabia’s Saline Water Conversion Corp., the South Korean company will build the 3,100-MW power plant in Yanbu, 350 kilometers north of the country’s second-largest city of Jeddah by December 2016.
The power plant will supply electricity to the Yanbu Industrial complex, Samsung said.
“This order represents Samsung Engineering’s strong standing in the power plant business, as it is the third power plant we have received in Saudi Arabia since 2011,” Samsung Engineering’s President and CEO Park Ki-seok said at the signing ceremony in Yanbu, according to Samsung Engineering.
Samsung Engineering said its consortium partners, Al Toukhi and Shanghai Electric, also have a $1.5 billion interest in the project. (Yonhap News)
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Articles by Korea Herald
