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Updated on : 8:41 am GMT | Wednesday 11th of September 2016 11
 
Issued By Business & Finance Group | Dubai Media City | Issue No.305
News Archive
Work begins on SR12.7 billion Rabigh power plant
Business & Finance Club - Riyadh : South Korea's Doosan Heavy Industries & Construction has begun work on a 2,500-megawatt power plant in Rabigh, 150-km northwest of Jeddah, after the Saudi Electricity Company (SEC) awarded it the SR12.7 billion ($3.39 billion) contract.
Kingdom gears up to mark 80th National Day
Business & Finance Club - Riyadh : The Kingdom of Saudi Arabia celebrates its 80th National Day today, marking the unification of the country by late King Abdul Aziz in 1932.
Kingdom of Saudi Arabia National Day: Dear Memorial and Precious Occasion
Business & Finance Club - Riyadh : The Emirs of different provinces have highlighted the significance of the 80th anniversary
Saudi Electricity awards SR1.2 billion contracts
Business & Finance Club - Riyadh : Saudi Electricity Company, the state owned power supplier, awarded three contracts valued at a total of SR1.2 billion to link existing power stations, build a new one and expand another, according to a reported statement by CEO Ali al-Barrak.
Apicorp to exit two equity investments, reinvest proceeds
Business & Finance Club - Riyadh : Arab Petroleum Investments Corp (APICORP) on Sunday said it was in "mature discussions" to divest two of its key equity stakes and reinvest the proceeds in new oil and gas companies as it seeks to diversify its portfolio.
Saudi Electricity awards SR1.2 billion contracts

Business & Finance Club - Riyadh : Saudi Electricity Company, the state owned power supplier, awarded three contracts valued at a total of SR1.2 billion to link existing power stations, build a new one and expand another, according to a reported statement by CEO Ali al-Barrak.

The Saudi Press Agency announced the news yesterday, though did not name the companies that won the contracts.

Saudi Electricity has this year made advances to its plan to add 13,000 mega watts to the country’s national grid to meet rising demand with a string of contract awards.

On 15th June the company signed a contract with GDF Suez and two other contractors for the construction of a 1,750 MW power plant, a project which will take two years and will be party financed by banks.

Two days later, Hyundai Heavy Industries Company was awarded a SR6 billion contract from SEC subsidiary Dhuruma Electricity Company to build a power plant.

Last month it approved projects valued at SR14.7 billion, including the expansion of the Rabigh power plant, the construction of a power link between Hail and al-Jawf and installing power cables in Makkah.

Power demand in Saudi Arabia, the world’s largest oil supplier, is set to increase 8% a year as the population expands and the government invests to spur economic growth. The utility plans to invest SAR205 billion in capacity expansion by 2018.

 

 
 

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