Korea Electric Power Corporation (Kepco) is the developer of the estimated $500m second expansion phase of the Jafurah independent steam and power plant project in Saudi Arabia
Korea Electric Power Corporation (Kepco) has awarded contracts for a project to expand the Jafurah cogeneration independent steam and power plant (ISPP) in Saudi Arabia.
In February, MEED reported that Saudi Aramco was in negotiations with Kepco for the estimated $500m second expansion phase of the Jafurah ISPP project. Kepco is understood to have eventually won the contract to develop the facility.
Kepco has awarded South Korea-based Doosan Enerbility the main contract for performing engineering, procurement and construction (EPC) works on the project, according to information obtained by regional projects tracker MEED Projects.
Canada-based WSP has secured the role of project management consultant (PMC) on the Jafurah ISPP second phase project, MEED Projects has learnt.
The award of EPC and PMC contracts for the second expansion phase of the Jafurah ISPP project comes as construction of the first phase is nearing completion.
At the time of its procurement, the plant's first phase was to have a power capacity of 270MW-320MW, a low-pressure (LP) steam demand of 77-166 thousand pounds an hour (klb/hr) and high-pressure (HP) steam demand of 29-126 klb/hour by 2023.
The LP and HP steam demand will increase to 283-373 klb/hr and 66-321 klb/hr, respectively, by 2027.
Aramco issued the letter of award to Kepco for the contract to develop the Jafurah ISPP scheme in July 2022.
The South Korean utility developer and investor saw off competition from two Saudi-headquartered firms, Acwa Power and Al-Jomaih, to win the contract.
Kepco subsequently awarded South Korea’s Doosan Heavy Industries & Construction the project’s EPC contract.
US/India-based Synergy Consulting provided financial advisory services to Kepco on its bid.
Sumitomo Mitsui Banking Corporation served as the client's financial adviser for the project. Germany’s Fichtner Consulting Engineers is technical consultant, while the UK’s Wood Group is project management consultant.
READ THE JULY 2025 MEED BUSINESS REVIEW – click here to view PDF
UAE and Turkiye expand business links; Renewed hope lies on the horizon for trouble-beset Levant region; Gulf real estate momentum continues even as concerns emerge
Distributed to senior decision-makers in the region and around the world, the July 2025 edition of MEED Business Review includes:
> AGENDA: UAE-Turkiye trade gains momentum > INTERVIEW 1: Building on UAE-Turkiye trade > INTERVIEW 2: Turkiye's Kalyon goes global > INTERVIEW 3: Strengthening UAE-Turkiye financial links > INTERVIEW 4: Turkish Airlines plans further growth > CURRENT AFFAIRS: Middle East tensions could reduce gas investments > GCC REAL ESTATE: Gulf real estate faces a more nuanced reality > PROJECTS MARKET: GCC projects market collapses > INTERVIEW 5: Hassan Allam eyes role in Saudi Arabia’s transformation > INTERVIEW 6: Aseer region seeks new investments for Saudi Arabia > LEADERSHIP: Nuclear power makes a global comeback > LEVANT MARKET FOCUS: Levant states wrestle regional pressures > GULF PROJECTS INDEX: Gulf projects index continues climb > CONTRACT AWARDS: Mena contract award activity remains subdued > ECONOMIC DATA: Data drives regional projects > OPINION: A farcical tragedy that no one can end |
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