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- Kuwait Bourse closes higher
- Barwa Real Estate posts QR239.5m net profit for Q1
- QIC Group reports net profit of QR205m for Q1
- Gold prices fall
- China ramps up global yuan push, seizing on retreating dollar
- OPAZ, OQAE ink pact to drive energy efficiency in industrial zones
- Middle East Pizza Hut operator Americana Restaurants Q1-2025 revenues are healthy
- Dubai Airports off to a strong start in 2025, welcomes 23.4 million passengers in 3 months
- Saudi Arabia's shoppers are picking more gold jewellery - whatever the price
- Nakilat reports $118.9m Q1 net profit, up 3.2%
31/12/2014 16:50 AST
State-owned utility Saudi Electricity Company (SEC) has signed a SR4.5 billion ($1.2 billion) contract with US power giant General Electric to establish the kingdom's first fossil fuel and solar power plant near the Red Sea port of Dhuba, said a report.
The 600-megawatt (MW) integrated solar combined cycle (ISCC) plant will primarily burn natural gas, but will generate 50 MW with the support of solar energy to increase fuel efficiency. It will be commissioned in 2017, reported the Arab News.
The plant will help boost the kingdom's power supply and also enable it to export electricity to Egypt, Turkey and Europe, said the report.
In addition to the establishment of an integrated green power plant, the contract includes construction of supply lines to Tabuk, it added.
"It is the largest environment-friendly project in the kingdom," the Water and Electricity Minister Abdullah Al-Hussayen was quoted as saying.
The SEC's chief executive Ziyad Al Shiha was quoted as saying the plant would have three power generating units - two powered by gas and the third by steam - to produce 550 MW in addition to solar energy-powered units to produce 50 MW.
Trade Arabia
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
02/03/2018
The Saudi Electricity Company (SEC) said that 68 per cent of its purchases, during the past four years, came from 52 local factories, with a growth rate of 720 per cent compared to 2001.
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Trade Arabia
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30/04/2025
Barwa Real Estate discloses its financial statements for the three month period ended March 31, 2025.
The results showed a net profit of QR239.5m attributable to the shareholders of the pare
The Peninsula
30/04/2025
Qatar Insurance Group, the leading insurer in Qatar and the MENA region, has announced a robust net profit of QR205m for the first quarter of 2025, up from QR194m in Q1 2024. The results were approve
The Peninsula
30/04/2025
Americana Restaurants has turned around its fortunes with revenues up 16.2% in Q1-2025, to total $573.4 million, and with net profit a healthy 16.5% higher to $32.6 million. This reverses a string of
Gulfnews
30/04/2025
Qatar Gas Transport Company (Nakilat) achieved a net profit of QAR433 million ($118.92 million) for the first quarter of 2025, ended March 31, marking a 3.2% increase from QAR420 million recorded in
Trade Arabia
30/04/2025
Aldar Properties has reported a 33% year-on-year increase in profit before tax to AED2.2 billion ($599 million) for the first quarter of 2025, with net profit after tax rising by 22% year-on-year to
Trade Arabia
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