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- Dubai firm talabat sets higher growth for 2025 after $121m profit
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31/12/2014 16:51 AST
State-owned utility Saudi Electricity Company (SEC), has signed a contract worth SR1 billion ($267 million) to buy generators for the kingdom's first fossil fuel-fired power plant that will also produce solar energy.
The 550-megawatt integrated solar combined cycle (ISCC) plant will primarily burn natural gas, but will generate 50 MW of solar energy to increase fuel efficiency at the planned facility near Tabuk on the Red Sea coast.
SEC did not name the company which will supply generating units to the plant, but an industry source familiar with the matter said the company was General Electric.
ISCC plants reduce emissions of climate-warming carbon by increasing the amount of steam available for driving power generation turbines, without having to burn more gas or oil.
SEC said the project, expected to cost a total of SR2.5 billion ($666 million), would be fully operational before the end of 2017.
The company's chief executive Ziyad al-Shiha was also quoted as saying in the statement that a new high voltage direct current facility in Tabuk, expected to cost SR4.5 billion ($1.1 billion), would be commissioned in 2018 to boost electricity transmission in the country's western region and later to Egypt.
Reuters
11/08/2025
Saudi Electricity Company (SEC) continued to deliver robust financial and operational performance in the second quarter and first half of 2025, said an SEC press release issued on Sunday.
Re
Asharq Al Awsat
13/04/2025
Saudi Electricity Company (SEC) has announced that it has received bids from leading utility majors for the construction of two 380kV substations at Afif city in central Saudi Arabia in the Najd regi
Trade Arabia
09/04/2025
GE Vernova and Saudi Electricity Company (SEC) have announced the successful completion of the first gas turbine outage entirely planned and executed by GE Vernova's Saudi engineers and specialists.
Trade Arabia
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12/08/2025
The food and retail delivery company Talabat Holding now expects higher growth for full-year 2025 after netting a profit of $121 million in the second quarter.
The company, listed on DFM, al
Gulfnews
12/08/2025
Al-Safat Investment Company announced net profits of KD 4.65 million for the first half of 2025, reflecting a strong financial performance that underscores the success of its strategy to restructure
Kuwait Times
12/08/2025
Millennium Hotels and Resorts Middle East & Africa, in partnership with Saudi Forward Hospitality Company Taiba, has announced the relaunch of Millennium Al Aqeeq and Millennium Taiba in Madinah.
Trade Arabia
12/08/2025
QNB Group, the largest financial institution in the Middle East and Africa, has organised the QNB Blue Pledge, a global initiative aimed at raising awareness about the importance of preserving the ma
The Peninsula
12/08/2025
Heavy Engineering Industries and Ship-building Company (Heisco) has announced that its consortium with Indian group VA Tech Wabag has emerged as the lowest bidder for a key desalination project being
Trade Arabia
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