Middle-east Arab News Opinion | Asharq Al-awsat

Saudi Awards $3.4B Electricity Contract to Doosan - ASHARQ AL-AWSAT English Archive
Select Page

RIYADH, Saudi Arabia (AP) – Saudi Electricity Co. says it has awarded South Korea’s Doosan Heavy Industries & Construction a 12.75 billion riyal ($3.4 billion) to expand the kingdom’s Rabigh power plant.

The Saudi firm said in a statement Tuesday the project will be financed through a 15 billion riyal loan the company was given by the government.

The 2,500-megawatt plant is about 94 miles (150 kilometers) northwest of the port city of Jeddah.

Saudi officials estimate that the oil rich kingdom’s electricity needs will grow by at least eight percent yearly — a level that requires tens of billions of riyals in investments for new projects.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

More Posts

Follow Me:
FacebookGoogle PlusYouTube