SEC signs $1.3bn deal for Riyadh plant


Saudi Electricity Co. - SECO
12.90 0.00 0.00%
16/05/2012 00:55 AST  Reuters
Top Related Companies
QEWS
157.9 -0.10 -0.07%
 
TAQA
1.28 -0.02 -1.54%
 
NGIC
20 0.00 0.00%
 
APBS
0.649 0.00 0.00%
 
SHPS
2.41 0.00 0.00%
 

Saudi Electricity Company (SEC) signed a contract worth 4.7 billion riyals ($1.25 billion) on Wednesday to build a power plant outside the capital Riyadh, the company said.

The plant with a capacity of 2,175 megawatts is to be built in 36 months in an area 100 km (60 miles) northwest of Riyadh, state-run SEC said in an emailed statement. It will be the 12th plant in the Riyadh area. The statement did not name the contractor.

Industry sources familiar with the bidding said in April that Arabian Bemco Contracting Co (Bemco) had submitted the lowest bid to build a nearly 2,000 megawatt (MW) power plant near Riyadh for SEC.

Saudi Electricity has an $80-billion investment plan to increase its power generation capacity by 30,000 MW by 2018 to meet power demand which is growing at around 8 percent each year.

Profile: Saudi Electricity Co. (SECO)
Saudi Electricity Co. - SECO
2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | News Archive

JAN | FEB | MAR | APR | MAY | JUN
Most Viewed News
Most Viewed Companies
Ticker Price Volume
RIBL 24.7 220,469
ALKHODARI 31.2 395,717
EMAAR 5.61 9,024,776
UCA 36.5 203,884
KFIN 680 558,926
NBAD 12.25 293,244
SAGRINSURANCE 24.2 518,593
Recent News

Commercial Bank Dissolves GEKKO
The Board of Directors of The Commercial Bank of Qatar has reviewed the operating performance of and future potential for, Gekko LLC (“the Company”) and has approved the dissolution of the Company. <

Dollar Little Changed As Fed Decision Approaches
The dollar is little changed on Wednesday, as the 2-day FOMC meeting nears its conclusion later this afternoon. The U.S. currency is basically flat against the Euro, but is slightly lower against bot

Eurozone Downturn Eases In June, Output Falls At Slower Rate
Eurozone business activity logged the smallest downturn since March last year, flash survey data from Markit Economics showed Thursday.

The composite output index improved to 48.9 in Jun

U.S. Stock-Index Futures Decline; Barrick Retreats
U.S. stock-index futures fell, tracking global equities that tumbled after the Federal Reserve said it may start paring stimulus measures later this year.

Barrick Gold Corp. and Newmont Mi

Thuraya Secures Multi-Million Dollar Long-Term Financing
Thuraya Telecommunications Company, a leading mobile satellite services operator is pleased to announce it has secured a term financing facility through Dubai Islamic Bank (DIB). Thuraya will use the

Research Reports
Mena Daily Fixed Income Report 20-06-2013 Kuwait Stock Exchange Daily Morning Brief 20-06-2013 MENA Daily Market Report 20-06-2013 Muscat Stock Market Morning Brief 20-06-2013 Middle East & North Africa Daily Market Report 20-06-2013 more..
GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Are you satisfied with your full-service broker?