State-controlled Saudi Electricity Co (SEC) plans to sign a 10.7bn riyal ($2.85bn) power deal with a consortium that includes South Korea’s Samsung to construct the 3900 MW gas fired Qurayyah plant, the firm said on 19 September.
SEC said it plans to sign the deal on 21 September for the plant, the third of six planned independent power projects IPPs aimed at adding about 11 GW of capacity.
Saudi Electricity will buy all the power produced by the plant from the winning consortium, which will run it on a build-own-operate basis.
The consortium also includes Acwa Power Projects Ltd and MENA Fund. The plant is expected to start production before the summer of 2014, said SEC.
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